goeasy (TSE:GSY) Shares Cross Below 50 Day Moving Average – Here’s What Happened

goeasy Ltd. (TSE:GSY)’s share price passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$43.18 and traded as low as C$43.08. goeasy shares last traded at C$44.24, with a volume of 46,311 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GSY shares. Royal Bank Of Canada increased their target price on shares of goeasy from C$30.00 to C$35.00 in a report on Monday, August 10th. ATB Cormark Capital Markets downgraded shares of goeasy from a “market perform” rating to an “underperform” rating and set a C$35.00 price target on the stock. in a research note on Wednesday, July 29th. National Bank Financial lifted their price target on shares of goeasy from C$43.00 to C$53.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Desjardins upped their price objective on shares of goeasy from C$38.00 to C$56.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Raymond James Financial upped their price objective on shares of goeasy from C$42.00 to C$45.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, goeasy currently has an average rating of “Reduce” and a consensus target price of C$42.89.

goeasy Stock Up 0.2%

The firm has a 50-day simple moving average of C$43.17 and a 200 day simple moving average of C$41.05. The stock has a market capitalization of C$707.42 million, a P/E ratio of -2.11, a P/E/G ratio of 0.84 and a beta of 1.14. The company has a debt-to-equity ratio of 558.73, a current ratio of 22.81 and a quick ratio of 28.46.

goeasy (TSE:GSY) last released its quarterly earnings results on Thursday, August 6th. The company reported C$1.02 earnings per share for the quarter. goeasy had a negative return on equity of 37.13% and a negative net margin of 20.21%. The company had revenue of C$390.04 million for the quarter. On average, equities research analysts forecast that goeasy Ltd. will post 20.32 EPS for the current year.

Insider Buying and Selling

In other goeasy news, insider Courtenay Andrew Ames Plaunt sold 979 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$45.22, for a total transaction of C$44,270.38. Following the sale, the insider directly owned 505 shares of the company’s stock, valued at C$22,836.10. The trade was a 65.97% decrease in their position. In the last 90 days, insiders have sold 4,837 shares of company stock worth $217,486. 22.05% of the stock is owned by company insiders.

About goeasy

goeasy Ltd. is a leading Canadian provider of non-prime consumer lending solutions, offering a suite of financial products through its easyfinancial, easyhome, and LendCare brands. goeasy offers unsecured and secured instalment loans, point-of-sale financing, and lease-to-own merchandise through its omni-channel model, which spans online, mobile, and hundreds of locations nationwide. Driven by its team members’ dedication to expand access to credit for underserved communities and helping customers strengthen their financial futures, goeasy has proudly served more than 1.6 million customers while building an award-winning culture.