goeasy Ltd. Achieves Record Revenue Despite Economic Challenges

The latest announcement is out from goeasy ( (TSE:GSY) ).

goeasy Ltd. reported strong third-quarter results with a 13% increase in loan originations to $946 million and a 24% growth in its loan portfolio to $5.44 billion. Despite a challenging economic climate, the company achieved a record revenue of $440 million, up 15% from the previous year. However, net income decreased by 61% due to a non-cash fair value change on prepayment options related to notes payable. The company remains optimistic about its long-term potential, supported by increased provisions and a focus on cash collections amid persistent macroeconomic challenges.

The most recent analyst rating on (TSE:GSY) stock is a Buy with a C$225.00 price target. To see the full list of analyst forecasts on goeasy stock, see the TSE:GSY Stock Forecast page.

Spark’s Take on TSE:GSY Stock

According to Spark, TipRanks’ AI Analyst, TSE:GSY is a Neutral.

goeasy’s overall stock score is driven by strong financial performance and positive earnings call sentiment, highlighting record loan growth and revenue increases. However, high leverage, negative cash flows, and bearish technical indicators weigh down the score. The stock’s reasonable valuation and attractive dividend yield provide some support.

To see Spark’s full report on TSE:GSY stock, click here.

More about goeasy

goeasy Ltd. is a leading consumer lender in Canada, specializing in providing a comprehensive range of financial services to individuals with near to non-prime credit scores. The company operates across various lending channels, including unsecured lending, home equity lending, automotive financing, and point-of-sale financing.

Average Trading Volume: 87,856

Technical Sentiment Signal: Hold

Current Market Cap: C$2.68B

Find detailed analytics on GSY stock on TipRanks’ Stock Analysis page.