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EZCORP, Inc. Message Board

  • hyvest hyvest Oct 7, 2013 7:59 AM Flag

    Management has idea what to do

    The decisions are made by one person. Cohen. He doesn't have a clue about operations. He's an ex Goldman exec who thinks he a deal maker. He's not. He's built a company that's provided him with an annual stipend that really has oversight from 30,0000 ft. The bod is a joke. It means nothing. Rothemal has been there now going in 5 years. He's clueless. He's missed every budget but never misses a vacation. The acquisitions are a joke. Top dollar. How do you screw up Mexico. Da. This company will take years to turn around. The culture there is a joke. There are som many people there on payroll trying to figure out what to do next. They need to cut out all the fluff in G&A, start incentivizing the sales and lending associates, Cohen needs to leave his annual stipend in the company for two years, focus on title lending and start the good ole blocking and tackling
    In The pawn locations they have. This company has been run in the ground sinle handily by Cohens decisions concerning the new management team and the acquisitions that have been made. I've lost my #$%$ hanging on to this company that's being run by a bunch if clowns!!!!!!!!! Trust me. We will hear now that there will be no growth. Can't handle the losses. What a joke.

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    • An interesting interpretation of the "Key Statistics."
      Net Profit Margin: 9.3%
      Operating Profit Margin: 16.84%
      Return on Equity: 14.01%
      Revenue Growth: 4.7%
      PE: 8.55
      All from Yahoo.

      The only one of these that is actually not doing well is PE. So the stock hasn't responded to corporate performance. Please explain how this translates into "This company has been run into the ground. . . ."

      My analysis indicates that the stock price is consistent with a company "growing" -1.1% per year. I'd say the stock price is out of sync with the company. Convince me it's because the price is too high, with historical performance data to support your convincing.

      JMHO
      Jag

      Sentiment: Buy

      • 1 Reply to jagad5
      • Normal rules of stock valuation depend on the [rather more than] hope that owners will receive benefits [generally dividends] from improving corporate performance. Corporate behavior and statements have generated a perception that the owners who hold non-voting shares will get little or nothing so long as the present structure continues. The degree of unfriendliness shown has caused us to fear that even in the event of sale of the company, we will receive less than the fraction of the proceeds that present governing documents suggest.

        Beyond that, EZCorp has grown to the point that meaningful acquisitions require expert investment banking advice. The entity controlled by the sole voting shareholder has first refusal of investment banking business, and they do not appear to be as good as the company needs.

 
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