goeasy Ltd EHMEF

Bought in today

[snootchybootchy]

Opened up a new position in GSY today. My parents hold this stock so I'm quite familiar with the name and seems way too cheap down here for a blue chip name.

[Torontojay]

Good luck. You're going to need it... lol jk 

[ferret_ca]

be careful here in the short term and  gsy is NOT a blue chip stock it's marcket cap is only around 1.5b. gsy's current numbers p/e and b/v are higher than most of the banks, they do have a better growth profile but that is mostly stalled for a few q's. I sure don't see any insiders stepping in and buying down here like you see in some of the banks, all they do is give

[Torontojay]

The banking sector and I'll throw in Goeasy is certainly at risk especially if provision for credit losses get marked higher. There is a lot of negative sentiment in financials at the moment which could get worse in the coming quarters.  Also, remember shortly after Covid, Goeasy took a beating and dropped to as low as $21!!! Anything could happen.     

[Torontojay]

Btw, Goeasy has a lower P/E ratio if you remove the non recurring write down of intangible assets.  Goeasy effectively earned $11.55 per share in fiscal 2022.  This gives it a P/E ratio of ~ 7.9 which is closer in line with Bank of Montreal but lower than the other 5 big banks. In the past Goeasy always had a slightly higher P/E ratio than the banks and their growth profile was much

[ferret_ca]

I agree on the banks , CM is the only 1 I currently have a position in (1/2position)  NA is the only other 1 I'd consider dipping my toe in right now, all the others have too much foreign exposure with TD RBC and BMO, in that order probably have the biggest risk with their US exposure for the near to medium term, long term probably do well on all of them. CM has some decent insider buying