Jefferies Downgrades DFC Global Corp (DLLR) to Hold on UK Regulatory Shift
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Price: $15.02 -1.57%
Rating Summary:
8 Buy, 3 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
8 Buy, 3 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade DLLR Now!
Jefferies downgraded DFC Global Corp (NASDAQ: DLLR) from Buy to Hold with a price target of $19.00 (from $25.00).
The analyst comments, "We are downgrading shares of DLLR and CSH, as our checks indicate current collection practices in the UK could become more restrictive come October when the financial regulatory body (OFT) issues final collections guidance. We believe this change is not priced in and expect losses and collection costs to move higher, also pressuring originations as lenders shift focus to longer duration products."
FY12 EPS goes down from $2.44 to $2.38.
For an analyst ratings summary and ratings history on DFC Global Corp click here. For more ratings news on DFC Global Corp click here.
Shares of DFC Global Corp closed at $19.36 yesterday, with a 52 week range of $15.06-$24.57.
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The analyst comments, "We are downgrading shares of DLLR and CSH, as our checks indicate current collection practices in the UK could become more restrictive come October when the financial regulatory body (OFT) issues final collections guidance. We believe this change is not priced in and expect losses and collection costs to move higher, also pressuring originations as lenders shift focus to longer duration products."
FY12 EPS goes down from $2.44 to $2.38.
For an analyst ratings summary and ratings history on DFC Global Corp click here. For more ratings news on DFC Global Corp click here.
Shares of DFC Global Corp closed at $19.36 yesterday, with a 52 week range of $15.06-$24.57.
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