EZCORP (NASDAQ:EZPW) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of EZCORP (NASDAQ:EZPW) from a sell rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Ezcorp Inc. is engaged in establishing, acquiring, and operating pawnshops which function as convenient sources of consumer credit and as value-oriented specialty retailers of primarily previously owned merchandise. Through its lending function, the company makes relatively small, non-recourse loans secured by pledges of tangible personal property. The company contracts for a pawn service charge to compensate it for each pawn loan. “

Several other analysts also recently weighed in on EZPW. ValuEngine upgraded EZCORP from a sell rating to a hold rating in a research report on Wednesday, July 17th. TheStreet upgraded EZCORP from a c+ rating to a b rating in a research report on Friday, May 10th. B. Riley assumed coverage on EZCORP in a research report on Friday, April 12th. They issued a buy rating and a $14.00 price objective for the company. Finally, BidaskClub downgraded EZCORP from a hold rating to a sell rating in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. EZCORP presently has a consensus rating of Hold and an average target price of $12.50.

EZPW traded down $0.29 during midday trading on Wednesday, hitting $8.67. The stock had a trading volume of 329,941 shares, compared to its average volume of 210,593. The stock has a market capitalization of $546.13 million, a P/E ratio of 10.97 and a beta of 1.73. The company’s fifty day moving average is $9.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.28 and a current ratio of 2.93. EZCORP has a 1 year low of $7.45 and a 1 year high of $11.90.

EZCORP (NASDAQ:EZPW) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The business had revenue of $206.92 million during the quarter, compared to analyst estimates of $216.17 million. EZCORP had a return on equity of 6.54% and a net margin of 0.26%. EZCORP’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, research analysts expect that EZCORP will post 0.92 EPS for the current year.

A number of hedge funds have recently made changes to their positions in EZPW. Millennium Management LLC lifted its position in EZCORP by 393.8% in the fourth quarter. Millennium Management LLC now owns 866,014 shares of the credit services provider’s stock valued at $6,694,000 after purchasing an additional 690,645 shares during the last quarter. 361 Capital LLC bought a new stake in EZCORP in the first quarter valued at approximately $2,568,000. BlackRock Inc. lifted its position in EZCORP by 3.5% in the fourth quarter. BlackRock Inc. now owns 7,842,921 shares of the credit services provider’s stock valued at $60,627,000 after purchasing an additional 264,920 shares during the last quarter. Foundry Partners LLC lifted its position in EZCORP by 54.1% in the first quarter. Foundry Partners LLC now owns 567,000 shares of the credit services provider’s stock valued at $5,284,000 after purchasing an additional 199,025 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in EZCORP in the first quarter valued at approximately $1,570,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.

About EZCORP

EZCORP, Inc provides pawn loans. It operates through three segments: U.S. Pawn, Latin America Pawn, and Other International. The company offers pawn loans, which are non-recourse loans collateralized by tangible personal property, including jewelry, consumer electronics, power tools, sporting goods, and musical instruments; and sells merchandise, such as collateral forfeited from pawn lending operations and used merchandise purchased from customers.

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