Here are three stocks to sell

Article Excerpt

Long-time readers know that we are constantly reevaluating our stock picks. Here are three stocks that have only limited growth prospects for the foreseeable future. We now see them as sells. CASH STORE FINANCIAL SERVICES INC. $5.52 (Toronto symbol CSF; TSINetwork Rating: Speculative) (780-408-5110; www.csfinancial.ca; Shares outstanding: 17.4 million; Market cap: $96.0 million; Dividend yield: 8.7%) operates 573 stores under two banners: The Cash Store and Instaloans. Both chains offer consumer payday loans (advances on upcoming paycheques). The company faces increasing regulations in the payday loan industry. It has also been forced to pay a number of penalties, the latest being a March 2012 order from the B.C. government to refund its customers millions of dollars in overpaid interest and extra charges. These transactions date back to 2009. Cash Store is now slowing its expansion in Canada and focusing on growing in the less-regulated U.K. market. But it’s far from certain if that strategy will be successful. Cash Store Financial is now a sell. SHAMARAN…

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