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EZCORP, Inc. Message Board

  • hyvest hyvest Feb 10, 2014 10:03 AM Flag

    Read fine print. Earnings were result of selling several stores. Cohen was then paid a 2,000,000 fee

    No wonder Rothemal is still with the company. They sold stores to make the number and counted it as recurring revenue. Cohen was also paid a 2,000,000 fee in addition to his annual 7,000,000 stipend. I thought
    that this would be a good bet with Cohen being an ex Goldman exec and its turned out thats he's got no clue running this business. Acquisitions he's negotiated while traveling around the world parting have been a disaster. Big right downs coming from online companies. I know there will be posters on here debating me. Blah Blah Blah. Proofs in the stock price. Worst performing stock in the sector. More #$%$ coming unless they continue to sell stores and count as recurring revenue. Then Cohen can get another big bonus. These guys are only good at skimming!!!!!!!!

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    • All the negatives are factored in. Investors are buying because the company is becoming more conservative in its growth, insiders are buying (the CFO recently purchased a 1000 shares which backs up the signal sent by the CEO), gold is rising, and pawnshop / alternative financial services are a great sector to be in.

      At $35, EZPW too expensive.
      At $12, EZPW too cheap.

    • You offer nothing new. Go look at last quarter's EPS actual on Yahoo, it takes out the 1x gain, too. Mgmt stated that they 1x bonuses which almost equaled that as well (of course, more bonuses). The tide has turned, though. Comps in the second half are easy, A&B is already a zero and after online lending hits the inflection point there will be more growth.

    • In general I agree, but I consider buying and selling stores a routine part of the company's business, so I can't argue with that part of the accounting.

      • 1 Reply to jacosa
      • It should be categorized with asset sales as its a depreciable item and then added back in. If you backed the store sales out they would not have met guidance. Was just a bit shady to me after reading during the initial pop. The chart though is still fairly 50/50 on long/short so haven't done anything yet.

    • The fine print in the earnings has been what has kept me on the sidelines. I still watch but still not convinced. What guidance was provided was not extraordinary. Also ABM.L continues to slide -- their actual cash on hand has gone down - etc. They have converted much of their gold inventory to general merchandise thus gold pricing wont be as relevant as in the past. May break out but more than likely will be without me.

 
EZPW
10.58-0.12(-1.12%)Aug 22 4:00 PMEDT

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