Shares of EZCorp(EZPW Quote) were among the Nasdaq's winners Monday, jumping 13% after the pawn-loan company increased its third-quarter earnings estimate.
For the period ended June 30, the company expects to report earnings of 35 cents to 37 cents a share, up from an earlier view of 20 cents to 23 cents. Analysts polled by Thomson First Call project earnings of 23 cents a share. For the full fiscal year, EZCorp raised its earnings forecast to $1.80 to $1.85 a share from an earlier projection of $1.60 to $1.65 a share. Analysts anticipate fiscal 2006 earnings of $1.65 a share.
EZCorp attributed the bolstered outlook to higher gold values and lower-than-expected expenses from new store openings. The company, which opened 25 stores during the third quarter, said that it still expects to open more than 100 stores during the fiscal year that ends Sept. 30, which will push much of the anticipated new-store earnings drag into its fourth quarter. Shares were trading up $4.97 to $42.66. ...
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