Trying To Assess The EZCORP Black Box
Stephen Simpson, CFA
Stephen Simpson, CFA
This Turnaround Will Return 100% Within 3 Years
Thu, Jul. 7, 1:00 PM
Thu, Jul. 7, 12:45 PM
Wed, Jul. 6, 5:39 PM
Wed, Jul. 6, 4:37 PM
- The move is part of a three-year plan to narrow the company's focus to its U.S. and Mexico pawn business. Owned 94% by EZCORP (NASDAQ:EZPW), Grupo Finmart is a consumer lender in Mexico and Colombia. It's being sold for a base purchase price of $50M, and the buyer is AlphaCredit.
- After closing, 99% of company revenue will be generated by the pawn business in the U.S. and Mexico.
Thu, Jun. 2, 6:30 AM
- The Consumer Financial Protection Bureau will release a set of sweeping proposals today aimed at reshaping the market for payday loans and other expensive credit that the agency and consumer advocates call "debt traps."
- The rules would limit the number of payday loans (which can carry interest rates as high as 390%) a consumer can take out, change how lenders collect payments and require them to do a more thorough review of borrowers' finances.
- Related tickers: EZPW, CSH, FCFS, QCCO
Wed, May 11, 10:39 AM
- Google has previously prohibited ads for illegal activities like selling guns, explosives, and drugs, but to this point it has never banned a broad category of financial products.
- Beginning July 13, consumers will still be able to find payday lenders on a Google search, but ads appearing on the top and right-hand side of results will not show marketing from the industry.
- "We’ll continue to review the effectiveness of this policy, but our hope is that fewer people will be exposed to misleading or harmful products," says Google global product policy director David Graff.
- Payday lenders already have a big regulatory target on their back, but this action from Google (combined with Facebook which already bans the ads) could have more impact.
- Of interest to: EZCORP (NASDAQ:EZPW), Cash America (NYSE:CSH), First Cash Financial (NASDAQ:FCFS), QC Holdings (NASDAQ:QCCO).
Tue, May 10, 12:47 PM
Mon, May 9, 11:05 PM
Thu, Apr. 7, 12:09 PM
- There's no particular news evident, but pawn shop operators Ezcorp (EZPW +10%) and World Acceptance (WRLD +6.5%) are sharply higher for the session.
- Both are down in the area of 60% since the start of January 2015, so we'll call this a bear market bounce.
- Now read: EZCORP - Significantly Undervalued Or Value Trap? (April 5)
Tue, Feb. 9, 5:42 AM
Dec. 24, 2015, 10:48 AM
- EZCORP (NASDAQ:EZPW): FQ4 EPS of -$1.08 may not be comparable to consensus of $0.29.
- Revenue of $188.83M (-4.0% Y/Y) misses by $50.58M.
- Shares -4.75%.
Oct. 2, 2015, 5:37 PM
Sep. 3, 2015, 4:39 PM
- The 13 USA Pawn & Jewelry Company pawn shops are located in Arizona and Oregon - both new markets for EZPW, which purchased the stores for $12.5M in cash. The deal is expected to be accretive to earnings beginning Oct. 1. It's the EZCORP's third set of stores purchased from Craig McCall.
- The company also increased its stake in Grupo Finmart to 94% from 76%. The purchase price for the boosted holding was $29M in cash. The added stake gives EZCORP full control of both management and the board.
Aug. 13, 2015, 7:06 PM
- Mitchell Fadel, Renta-A-Center's (NASDAQ:RCII) COO since 2002, is leaving to become the president of Ezcorp's (NASDAQ:EZPW) U.S. pawn shop unit, effective Aug. 28.
- Following his departure, those previously reporting to Fadel will report to CEO Robert D. Davis. At Ezcorp, Fadel will report to North America pawn shop chief Joe Rotunda.
Jul. 17, 2015, 10:14 AM
- The non-cash restatements for fiscal 2014 and Q1 of fiscal 2015 all correct errors surrounding the accounting for Grupo Finmart's structured asset sales in those periods.
- Management has determined the asset sales should not have been accounted for as such, meaning prior gains on sale must be eliminated.
- Instead the assets and liabilities will be included on the company balance sheet and interest income will be recorded over time.
- The numbers are still being worked on, but Ezcorp (EZPW -5%) previously recognized a $39.6M gain ($33M in 2014, $6.6M in 2015) that will need to be eliminated (interest income will be increased).
May 6, 2015, 5:35 PM
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EZCORP, Inc. engages in the provision of specialty consumer financial services. It offers pawn loans and and a variety of short-term consumer loans, including payday loans, installment loans and auto title loans, or fee-based credit services to customers seeking loans. It also sells merchandise,... More
Industry: Specialty Retail, Other
Country: United States
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