On Jun 28, Zacks Investment Research upgraded Cash America International, Inc. to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
Cash America International has been witnessing rising earnings estimates over the last 60 days with a year-to-date return of 18.1%. The long-term expected earnings growth rate for this stock is 5%. Further, this specialty financial services provider has now delivered positive earnings surprises in the last 4 quarters with an average beat of 5.26%.
The Zacks Consensus Estimate for 2014 increased 1.6% to $4.45 per share, over the last 60 days. For 2015, the Zacks Consensus Estimate advanced 1.3% to $4.86 per share over the same time period.
On May 30, Cash America International completed the senior notes offering worth $500 million due 2021 at an interest rate of 9.75%. The proceeds from the offering will be used for repayment of debt and other corporate purposes.
Cash America International reported its first-quarter results on Apr 24 with earnings per share of $1.64 beating the Zacks Consensus Estimate of $1.52 by 7.89%. Net income was up 4.1% year over year.
Management expects second-quarter 2014 earnings per share in the range of 85 cents to 95 cents per share and reiterated its fiscal-year 2014 earnings per share range of $4.20 to $4.40.
Other Stocks to Consider
Some other banking stocks worth considering include West Bancorp., Inc. and Great Southern Bancorp Inc. (GSBC - Free Report) with a Zacks Rank #1, while Astoria Financial Corporation (AF - Free Report) carries a Zacks Rank #2 (Buy).