08:14:27 EDT Mon 06 May 2024
Enter Symbol
or Name
USA
CA



goeasy Ltd
Symbol GSY
Shares Issued 16,532,605
Close 2023-05-03 C$ 89.82
Market Cap C$ 1,484,958,581
Recent Sedar Documents

Globe says Gloyn advises putting goeasy "on your radar"

2023-05-03 08:51 ET - In the News

The Globe and Mail reports in its Wednesday, May 3, edition that National Bank Financial analyst Jaeme Gloyn has reaffirmed his "favourable" view on property and casualty (P&C) insurance providers. The Globe's David Leeder writes that Mr. Gloyn continues to rate goeasy "outperform." Mr. Gloyn knocked his share target back by $10 to $170. Analysts on average target the shares at $161.80. Mr. Gloyn recommends investors "put it on your radar." Mr. Gloyn says in a note: "While the potential for recession headwinds to drive increased charge-off rates remains a key risk, we believe the current trading multiple offers an attractive risk-reward as the market has overreacted to the Budget 2023 decision to lower the rate cap. goeasy currently trades at 6.6 times P/E on our 2023 and 5.5 times on our 2024 estimates (downwardly revised), roughly in line with record lows of six times (excluding the COVID bottom). Q1-23 results will be strong, and we expect management will update its three-year commercial forecast with stronger guidance than the market is pricing in today." The Globe reported on Nov. 23 and Feb. 17 that Mr. Gloyn rated goeasy "outperform." It was then worth $120.12 and $130.74.

© 2024 Canjex Publishing Ltd. All rights reserved.