Last C$24.40 CAD
Change Today -0.98 / -3.86%
Volume 84.9K
EH On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 4:00 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

easyhome ltd (EH) Snapshot

Open
C$25.39
Previous Close
C$25.38
Day High
C$25.39
Day Low
C$24.25
52 Week High
08/18/14 - C$26.14
52 Week Low
09/5/13 - C$12.83
Market Cap
324.8M
Average Volume 10 Days
92.7K
EPS TTM
C$1.31
Shares Outstanding
13.3M
EX-Date
09/24/14
P/E TM
18.6x
Dividend
C$0.34
Dividend Yield
1.39%
Current Stock Chart for EASYHOME LTD (EH)

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easyhome ltd (EH) Details

easyhome Ltd., together with its subsidiaries, operates as a merchandise lease company in Canada and the United States. The company operates through two segments, easyhome Leasing and easyfinancial. The easyhome Leasing segment leases merchandise, with an option to purchase, various brand name household furnishings, appliances, home electronic products, and computers to consumers under weekly or monthly agreements through corporate and franchise stores. The easyfinancial segment provides various financial services, including unsecured and installment loans, and other ancillary financial services. As of June 30, 2014, it operated 238 easyhome leasing stores, including 9 consolidated franchise locations and 60 other franchise locations; and 139 easyfinancial locations. The company was founded in 1990 and is headquartered in Mississauga, Canada.

1,254 Employees
Last Reported Date: 03/5/14
Founded in 1990

easyhome ltd (EH) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$570.1K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: C$315.8K
Senior Vice President of Operations - Easyfin...
Total Annual Compensation: C$253.8K
Senior Vice President of Development
Total Annual Compensation: C$221.0K
Senior Vice President of Marketing & Merchand...
Total Annual Compensation: C$275.0K
Compensation as of Fiscal Year 2013.

easyhome ltd (EH) Key Developments

easyhome Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Revenue Guidance for the Year 2014; Reports Net Impairments for the Second Quarter Ended June 30, 2014; Plans to Open 35 New easyfinancial Branches in 2014

easyhome Ltd. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of CAD 63,246,000 compared to CAD 53,763,000 for the same period a year ago. Operating income was CAD 7,670,000 compared to CAD 5,425,000 for the same period a year ago. Income before income taxes was CAD 5,870,000 compared to CAD 4,071,000 for the same period a year ago. Net income was CAD 4,536,000 or CAD 0.33 per diluted share compared to net income of CAD 3,117,000 or CAD 0.26 per diluted share for the same period a year ago. Return on equity improved from 11.5% in the second quarter of 2013 to 12.8% in the current quarter. For the six months, the company reported revenue of CAD 123,580,000 compared to CAD 106,152,000 for the same period a year ago. Operating income was CAD 15,643,000 compared to CAD 10,508,000 for the same period a year ago. Income before income taxes was CAD 12,285,000 compared to CAD 7,970,000 for the same period a year ago. Net income was CAD 9,166,000 or CAD 0.66 per diluted share compared to net income of CAD 6,029,000 or CAD 0.50 per diluted share for the same period a year ago. For the quarter, the company reported net impairments of CAD 60,000 compared to CAD 50,000 for the same period a year ago. The company has also revised its revenue growth targets for 2014 to 14% to 16% (from 10% to 12%). The company expects to increase its margin guidance for 2014 to 30% to 32%. The company remains on track to open targeted level of 35 new easyfinancial branches in 2014.

easyhome Ltd. Declares Quarterly Dividend, Payable on October 10, 2014

easyhome Ltd. announced that its Board of Directors has approved a quarterly dividend payment of $0.085 per share payable on October 10, 2014 to the holders of common shares of record as at the close of business on September 26, 2014.

easyhome Ltd. Announces New $200 Million Credit Facility

easyhome Ltd. announced that it has entered into a new $200 million credit facility, replacing the Company's current debt facilities and providing $115 million of additional capital to support the growth of easyhome's consumer finance business, easyfinancial. The new credit facility, which expires on October 4, 2018, is comprised of a $180 million term loan and a $20 million revolving operating facility. The term loan is being arranged by Crystal Financial LLC on behalf of a syndicate consisting of Crystal Financial LLC and four other lenders. $105 million of the term loan must be drawn at closing with the balance available in periodic advances until July 31, 2015. Borrowings under the term loan bear interest at the Canadian Bankers' Acceptance rate plus 722 bps (resulting in the current rate on the term debt improving by 1.48% from 9.97% to 8.49%). The revolving operating facility is being provided by CIBC and borrowings under the revolving operating facility bear interest at their prime rate plus 200 to 300 bps, depending on the Company's total debt to EBITDA ratio. The new credit facility is secured by a first charge over substantially all of the assets of easyhome and its subsidiaries, contains certain positive, negative and financial covenants, and includes other usual and customary terms and conditions. As a result of the access to additional capital and the strong growth of the easyfinancial consumer loans receivable portfolio, the Company has revised its loan book and sales growth targets. The Company now anticipates that the loan book will reach $180 - $190 million by the end of 2014. The Company also now anticipates that the previous target of a $250 million loan book by the end of 2016 will be achieved at or before the end of 2015 and the Company is now targeting the loan book to grow to between $320 and $350 million by the end of 2016.

 

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Industry Analysis

EH

Industry Average

Valuation EH Industry Range
Price/Earnings 18.8x
Price/Sales 1.4x
Price/Book 2.3x
Price/Cash Flow 14.0x
TEV/Sales 1.1x
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