National Bank Financial Downgrades goeasy (TSE:GSY) to Hold

goeasy (TSE:GSY) was downgraded by research analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Raymond James Financial lowered shares of goeasy from a “moderate buy” rating to a “hold” rating and cut their price objective for the stock from C$208.00 to C$153.00 in a report on Wednesday, December 3rd. ATB Cormark Capital Markets lowered their target price on shares of goeasy from C$200.00 to C$185.00 and set an “outperform” rating for the company in a report on Friday, February 13th. BMO Capital Markets lowered shares of goeasy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Scotiabank decreased their price target on shares of goeasy from C$225.00 to C$210.00 in a report on Friday, January 30th. Finally, Jefferies Financial Group cut shares of goeasy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$180.33.

goeasy Stock Down 18.2%

GSY stock opened at C$40.67 on Tuesday. The stock has a market capitalization of C$651.78 million, a P/E ratio of 2.97, a PEG ratio of 0.84 and a beta of 0.16. The company has a debt-to-equity ratio of 383.82, a quick ratio of 28.46 and a current ratio of 42.83. goeasy has a one year low of C$37.83 and a one year high of C$216.50. The company has a 50 day moving average price of C$121.22 and a two-hundred day moving average price of C$145.91.

Key goeasy News

Here are the key news stories impacting goeasy this week:

• Negative Sentiment: Royal Bank of Canada downgraded goeasy from “hold” to “strong sell” — a steep cut that likely increased selling pressure by signalling elevated downside risk to investors. RBC downgrade (Zacks) RBC/TickerReport
• Negative Sentiment: Jefferies trimmed its view from “strong-buy” to “hold” — removing a previous buy endorsement and reducing potential buy-side conviction. Jefferies downgrade (Zacks)
• Negative Sentiment: BMO Capital Markets lowered its rating from “strong-buy” to “hold” — another sell-side pullback that compresses analyst support across the board. BMO downgrade (Zacks)
• Negative Sentiment: National Bank Financial cut its rating from “strong-buy” to “hold” — part of a sweep of downgrades that can trigger revaluation by institutional investors. National Bank downgrade (Zacks)
• Negative Sentiment: goeasy announced a major charge-off and withdrew its financial forecast — a direct operational hit that materially raises uncertainty around earnings and credit quality, and appears to be the primary catalyst for the analyst downgrades and the stock decline. MSN: charge-off and forecast withdrawal

goeasy Company Profile

goeasy Ltd provides financial services to own furniture, electronics, computers, and appliances. It offers merchandise leasing of household furnishings, appliances, and home electronic products to consumers under weekly or monthly leasing agreements. The company also offers unsecured installment loans to consumers. Its reportable business segments include easyhome and easyfinancial, of which it derives maximum revenue from easyfinancial segment.