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goeasy Ltd T.GSY

Alternate Symbol(s):  EHMEF

goeasy Ltd. is a Canadian company that provides non-prime leasing and lending services through its easyhome, easyfinancial, and LendCare brands. The Company's segments include easyfinancial and easyhome. The easyfinancial segment lends out capital in the form of unsecured and secured consumer loans to non-prime borrowers. easyfinancial's product offering consists of unsecured and real estate secured instalment loans. The LendCare operating segment specializes in financing consumer purchases in the powersports, automotive, retail, healthcare, and home improvement categories. The easyhome segment provides leasing services for household furniture, appliances and electronics and unsecured lending products to retail consumers. Its customers can transact seamlessly through an omnichannel model that includes online and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement, and healthcare verticals.


TSX:GSY - Post by User

Comment by Aarman4on Dec 27, 2020 11:03pm
201 Views
Post# 32186344

RE:RE:RE:RE:RE:Going to $100

RE:RE:RE:RE:RE:Going to $100What's not to like about goeasy????

It's kind of stuck in a very weird spot, not big enough to be recognized as  a major bank, and dealing in "risky" loans..... They keep doing the right things though... This is pretty easy to track and measure as a value play with high growth.... Buy any time it is on sale.

Cheers!



TimeScape wrote: I have also held since the Easyhome days - 1st purchase was in 2014 at $17.50, and have added several times since then, most recently in Dec 2018.  Also added it to the 2 other accounts that I manage.  GSY is rapidly gaining on BYD as my largest holding - made more on BYD (bought that one at $8), but GSY has gone up a ton lately.  Hard to believe people were selling this in the low $20's just 9 months ago in the March panic selloff.  Wish I had added some more then. 

The thing is that GSY is still not an expensive stock.  Great combination of cheap vaulation and very good growth.  Analysts I respect, like Hodson and Donville, both still really like it a lot.  I think a lot of investors still don't know abut it.  It still isn't on the BNN stock ticker, and you very seldom hear it mentioned there.  Market cap is still only $1.5 billion.  Adjusted eps in most recent quarter was $2.00 (up 56%), so an annual run rate of $8.00/share.  ROE was extremely good, at 33%.  With that ROE and growth, the stock price multiple of about 12.5 times that annual run rate of $8 looks very undervalued to me.  Looks to me like it should go much higher. Just announced a pretty big share buy back too, up to about 10% of the public float, after buying back about 7% of the float this year at an average of about $55.


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