EZCORP (NASDAQ:EZPW) Shares Gap Up Following Strong Earnings
by Teresa Graham · The Cerbat GemShares of EZCORP, Inc. (NASDAQ:EZPW – Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $33.44, but opened at $36.98. EZCORP shares last traded at $33.0480, with a volume of 256,131 shares.
The credit services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.36 by $0.22. The business had revenue of $434.90 million during the quarter. EZCORP had a return on equity of 12.37% and a net margin of 9.18%.
Wall Street Analyst Weigh In
Several research firms have recently commented on EZPW. Canaccord Genuity Group raised their price target on EZCORP from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Zacks Research cut EZCORP from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Citigroup reaffirmed an “outperform” rating on shares of EZCORP in a research note on Tuesday, January 20th. Stephens raised their price objective on EZCORP from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Finally, Wall Street Zen downgraded EZCORP from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.
Check Out Our Latest Stock Analysis on EZCORP
Insider Buying and Selling
In other EZCORP news, Director Pablo Lagos Espinosa sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director owned 208,177 shares of the company’s stock, valued at approximately $5,204,425. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ellen H. Bryant sold 20,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $25.00, for a total value of $500,000.00. Following the transaction, the insider directly owned 147,786 shares of the company’s stock, valued at $3,694,650. The trade was a 11.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 84,138 shares of company stock worth $2,102,416. 2.13% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On EZCORP
A number of hedge funds and other institutional investors have recently made changes to their positions in EZPW. Royal Bank of Canada grew its position in shares of EZCORP by 23.6% in the first quarter. Royal Bank of Canada now owns 19,375 shares of the credit services provider’s stock valued at $286,000 after purchasing an additional 3,705 shares during the period. Intech Investment Management LLC purchased a new stake in EZCORP in the 1st quarter valued at about $1,646,000. JPMorgan Chase & Co. lifted its holdings in shares of EZCORP by 47.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 183,291 shares of the credit services provider’s stock worth $2,544,000 after acquiring an additional 59,339 shares during the period. Rhumbline Advisers lifted its holdings in shares of EZCORP by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 73,064 shares of the credit services provider’s stock worth $1,014,000 after acquiring an additional 648 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of EZCORP during the 2nd quarter worth about $1,718,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.
EZCORP Stock Performance
The firm has a market capitalization of $1.98 billion, a PE ratio of 21.04 and a beta of 0.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.69 and a current ratio of 6.03. The company’s fifty day moving average price is $27.89 and its two-hundred day moving average price is $23.03.
About EZCORP
EZCORP, Inc is a specialty consumer finance company that provides pawn loans and retail merchandise programs primarily through its EZPAWN and Cash Converters brands. The company offers collateral-based loans secured principally by jewelry, electronics, musical instruments and other personal items, alongside check-cashing, money-transfer and bill-payment services. In addition to its pawn lending operations, EZCORP acquires previously pawned or consumer merchandise for resale through its “Sell-It-Now” platform and retail storefronts.
Founded in 1989 and headquartered in San Antonio, Texas, EZCORP operates in two principal geographic markets: the United States and Mexico.