Ann: Profit Guidance, page-41

They don't seem to have reacted to the new consumer lending rules as well as others have. They have good brand recognition and should be able to leverage that to create new products that if marketed right could well be more appealing to consumers than before and provide longer term steady cash flows to TGA as they move to longer term financing with the accompanying lower monthly payments.
The fact that their consumer loan book continues to wind down and that they state they are now relying on a sector which is not their core strength and does not make use of probably their greatest asset - the well known radio rentals brand name - speaks a lot about trouble ahead and a new and possible permanent lower SP regime. Without consumer lending under the RR name they are just any other player in a very crowded field.

Comparing with the other players in this field I wouldn't pay much more than a PE of 6 for this on their new earnings guidance - and by that its still too expensive even with todays further drop. Their prospects for growth appear much slimmer as well compared to CCV or even FXL and I'd expect that further earnings downgrades next FY would be possible.