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EZCORP, Inc. Message Board

  • barrons_reader barrons_reader Jul 6, 2013 10:14 AM Flag

    When Logic Does Not Pay!

    Over the two years ending December 2012, EZPW's earnings increased by 50%, yet over that same time, its share price fell by 25%. This is the type of a clue which should tell you that its way underpriced. Another clue in this regard is its price/earnings ratio of 7, where the price/earnings ratio of the S&P500 is now 19 (see BARRON'S). The amazing upward move in EZPW's share price over the past week despite its prediction of a lousy quarter or two is another clue regarding how unjustifiable its share price move has been.

    Sentiment: Buy

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    • There are some stock-price moves in the market which make a great deal of sense. However, on occasion, these price moves seem illogical, non-sensible, and, fortunately, not very often, completely ridiculous. As I get back to my previous comment about earnings going one way and share-price going the other way, I take a look at exactly who owns shares of EZPW and I find that Fidelity Investments owns 15% of EZPW's shares and the next closest holder is Vanguard with 5%. Being an investor with Fidelity since 1977, I sincerely believe that this firm has some of the brightest market people out there. So, I would like to add this criterion to those listed above. If I owned a large enough wagon, I would bring it up to the stock market window, pay them $1 and ride off with the wagon full of EZPW shares.

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