Categories

A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

JPM: Cash America International Fully Valued Following Spin-Off

This is from
cash loan – Yahoo News Search Results:

Cash America International Inc (NYSE: CSH) is fully valued after its recent spin-off of sub-prime lender Enova International, Inc. (NYSE: ENVA), an analyst said Monday.

JMP’s David Scharf downgraded Cash America to Market Perform, from Outperform, saying likely earnings growth at Cash America doesn’t support its current share price.

Cash America, which retains a 20 percent stake in Chicago-based Enova after the November 13 spin-off, traded recently at $24.66, down 2.1 percent.

Enova is off 17 percent since trading began. On Monday, Enova fell 1.5 percent, changing hands recently at $23.00.

Scharf said factoring in Cash America’s 20 percent stake in Enova “remains a wild card,” adding that his earlier Outperform rating had included improving results from both the pawn shop business as well as the Enova unit, which operates exclusively online.

Scharf noted that Street estimates of Cash America’s future earnings are near or above the range offered recently by the company.

That “allows little room for error” for a stock with a relatively high ratio of price to earnings, Scharf said.

Cash America has noted that consumer advocacy groups as well as federal and state legislators have recently suggested tightening rules “so as to severely limit, if not eliminate” so-called payday and other high-interest loan products offered by pawnbrokers and online lenders.

Latest Ratings for CSH

DateFirmActionFromTo Nov 2014JMP SecuritiesDowngradesMarket OutperformMarket Perform Jul 2014NomuraMaintainsNeutral Jul 2014Sterne AgeeUpgradesNeutralBuy

View More Analyst Ratings for CSH

View the Latest Analyst Ratings

See more from Benzinga

Deutsche Bank: Copa Holdings Can’t Beat Venezuela HeadwindsWunderlich Likes Angie’s List’s Latest Mobile AppBT Group Confirms Preliminary Talks To Acquire Telefonica SA’s UK Operations

FinanceInvestment & Company Information

More:
JPM: Cash America International Fully Valued Following Spin-Off

Comments are closed.