Sterne Agee Maintains Neutral, $29 PT on EZCORP

Sterne Agee reiterates its Neutral rating and $29 price target on EZCORP (NASDAQ: EZPW) as the company posted EPS below expectations for the December EPS.

Sterne Agee says, "EZPW reported 1Q12 of $0.78 vs. operating EPS of $0.69. Reported results were below our estimate of $0.79 and consensus estimates of $0.81. Relative to operating EPS, the quarter's growth of 13% supports our view that EPS growth rates are likely to move back down to a more normal run-rate of 15%."

EZPW closed at $27.16 per share yesterday.