Goeasy (TSX:GSY) is a Mississauga-based company that offers merchandise leasing and unsecured installment loans to its customers.
Shares of Goeasy have climbed 26.2% in 2019 as of close on February 25. The stock is up 18.5% year over year.
Goeasy released its fourth-quarter and full-year results for 2018 on February 13. In Q4 the company reported a 29% year-over-year increase in revenue to $138 million on the back of impressive loan portfolio growth for easyfinancial.
The loan portfolio increased 58% from December 31, 2017 to $834 million. Goeasy also reported a record $265 million in loan originations in the fourth quarter of 2018, up 50% from the prior year.
For the full-year Goeasy saw its gross loans receivable portfolio come in at the lower end of its revised guidance for 2018 at $833.8 million. The company opened 23 new easyfinancial locations in 2018 and posted total revenue growth of 26% which also came within the lower range of its 26-28% revised guidance.
Goeasy exepcts its gross loans receivable portfolio to breach the $1 billion mark by the end of 2019, and forecasts between 10-20 new easyfinancial openings.
Goeasy is a fantastic long-term hold for investors on the hunt for growth, but the stock is pricey right now. Shares boasted an RSI of 66 as of close on February 25, which is just outside of overbought territory.
Goeasy is trending up into the next decade, but investors should await the next pullback before adding to their portfolios in late February.
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