Elevate Credit Inc (NYSE:ELVT) – Investment analysts at Jefferies Financial Group upped their FY2019 earnings per share (EPS) estimates for shares of Elevate Credit in a report released on Monday, November 4th. Jefferies Financial Group analyst J. Hecht now forecasts that the company will post earnings of $0.67 per share for the year, up from their prior forecast of $0.62. Jefferies Financial Group also issued estimates for Elevate Credit’s Q4 2019 earnings at $0.13 EPS, Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.20 EPS and FY2020 earnings at $0.78 EPS.
Other analysts have also issued reports about the company. BTIG Research reaffirmed a “buy” rating and set a $6.00 target price on shares of Elevate Credit in a report on Tuesday, July 16th. William Blair reaffirmed a “market perform” rating on shares of Elevate Credit in a report on Tuesday. ValuEngine lowered Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, Zacks Investment Research lowered Elevate Credit from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $6.15.
Elevate Credit stock opened at $4.09 on Wednesday. The firm has a market cap of $181.39 million, a price-to-earnings ratio of 10.49 and a beta of 1.33. Elevate Credit has a 52 week low of $3.92 and a 52 week high of $5.21. The business’s 50-day moving average price is $4.24 and its 200 day moving average price is $4.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.12.
Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, November 4th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.01 by $0.10. The firm had revenue of $192.80 million for the quarter, compared to analyst estimates of $193.34 million. Elevate Credit had a return on equity of 19.19% and a net margin of 2.45%. Elevate Credit’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share.
In other Elevate Credit news, Director Kenneth E. Rees sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $4.95, for a total transaction of $74,250.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 34,000 shares of company stock worth $156,280 in the last quarter. 17.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in Elevate Credit during the second quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its position in Elevate Credit by 938.7% during the third quarter. Meeder Asset Management Inc. now owns 13,628 shares of the company’s stock worth $57,000 after purchasing an additional 12,316 shares in the last quarter. Jane Street Group LLC purchased a new position in Elevate Credit during the second quarter worth approximately $62,000. Russell Investments Group Ltd. purchased a new position in Elevate Credit during the second quarter worth approximately $66,000. Finally, Algert Global LLC purchased a new position in Elevate Credit during the second quarter worth approximately $68,000. Institutional investors own 47.77% of the company’s stock.
Elevate Credit Company Profile
Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States and the United Kingdom. The company offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.
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