New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 1, 2013
11:03 EDTWRLD, EZPW, DLLR, CSH, FCFSPayday lenders slump after DFC Global lowers forecast
Shares of DFC Global (DLLR) and those of some of its peers in the alternative financial services industry declined after DFC issued worse than expected earnings per share guidance for its third quarter and lowered its view of profit for the full year. WHAT'S NEW: DFC Global announced this morning that it expects earnings per share for the three months ended March 31 to be 20c-24c, compared to the consensus forecast of 63c. The company also lowered its fiscal 2013 earnings per share guidance to $1.70-$1.80 from its prior estimate of $2.35-$2.45. The company cited issues caused by new regulations in the United Kingdom. In early March, a British regulator, the Office of Fair Trading, or OFT, said it would give "payday lenders" 12 weeks to change their business practices. One of the OFT's complaints about the lenders was that they were granting consumers loans that they could not afford to repay, and then profiting from multiple rollovers of those loans. DFC Global said that it has responded to these developments by implementing higher lending standards. The lender obtained 48% of its revenue from the United Kingdom in fiscal 2012, according to the company's annual report. OTHERS TO WATCH: Other publicly traded payday lending companies include First Cash Financial (FCFS), Cash America (CSH), EZCORP (EZPW) and World Acceptance (WRLD). TODAY'S PRICE ACTION: In mid-morning trading, DFC Global plunged over 18% to $13.59, while First Cash and World Acceptance slid about 2%, Cash America declined 2.7%, and EZCORP fell 3%.
News For DLLR;FCFS;CSH;EZPW;WRLD From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 26, 2015
10:00 EDTFCFSOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:12 EDTFCFSFirst Cash Financial downgraded on lack of catalysts at JMP Securities
As noted earlier, JMP Securities downgraded First Cash to Market Perform from Outperform. The firm says that, given macro pressures in Mexico and lackluster results by the company's peers suggesting weak U.S. loan growth, First Cash is unlikely to outperform going forward.
06:12 EDTFCFSFirst Cash downgraded to Market Perform from Outperform at JMP Securities
Subscribe for More Information
August 25, 2015
08:05 EDTCSHCash America management to meet with Jefferies
Subscribe for More Information
August 18, 2015
16:10 EDTEZPWEZCORP receives Nasdaq deficiency notice
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use