Hi Pat: I have been a subscriber to your Inner Circle for many years. Thank you for the excellent advice. I would like your opinion on goeasy (GSY) listed on the Toronto stock exchange. Thank you.
A: goeasy Ltd., $20.59, symbol GSY on Toronto (Shares outstanding: 13.5 million; Market cap: $275.8 million; www.goeasy.com), is the new name for easyhome Ltd. (old symbol EH on Toronto).
The company has two main businesses:
easyfinancial (59% of total revenue) offers personal loans, insurance and pre-paid credit cards. This business has 210 locations in Canada, including standalone stores and kiosks inside easyhome leasing stores.
The company targets borrowers who fail to meet the stricter lending criteria of major banks. It charges higher interest rates, up to 29.9%, to offset this risk. But that’s still below rates charged by pay-day lenders.
The other business is easyhome (41% of revenue). It leases furniture, appliances, home electronics and computers to consumers with poor credit histories or insufficient cash. Customers then have the option to purchase their goods at a predetermined price. In addition, at the end of the lease term, title automatically transfers to…
Privacy Policy and Terms of Use
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