William Blair reissued their market perform rating on shares of Elevate Credit (NYSE:ELVT) in a research note released on Tuesday morning, Zacks.com reports. William Blair also issued estimates for Elevate Credit’s Q4 2019 earnings at $0.20 EPS, FY2019 earnings at $0.74 EPS, Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.15 EPS, Q3 2020 earnings at $0.24 EPS, Q4 2020 earnings at $0.32 EPS, FY2020 earnings at $1.08 EPS and FY2021 earnings at $1.17 EPS.
Several other brokerages have also recently weighed in on ELVT. BTIG Research restated a buy rating and issued a $6.00 price target on shares of Elevate Credit in a research report on Tuesday, July 16th. Zacks Investment Research lowered shares of Elevate Credit from a buy rating to a hold rating in a research note on Thursday, October 31st. Finally, ValuEngine lowered shares of Elevate Credit from a hold rating to a sell rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $6.15.
Shares of NYSE:ELVT opened at $4.05 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.11 and a quick ratio of 1.11. Elevate Credit has a 1-year low of $3.92 and a 1-year high of $5.21. The company has a market capitalization of $181.83 million, a P/E ratio of 10.38 and a beta of 1.33. The firm’s 50 day simple moving average is $4.22 and its two-hundred day simple moving average is $4.39.
Elevate Credit (NYSE:ELVT) last released 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. Elevate Credit had a net margin of 3.65% and a return on equity of 21.57%. The firm had revenue of $192.80 million for the quarter, compared to the consensus estimate of $193.34 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Elevate Credit will post 0.71 earnings per share for the current fiscal year.
In related news, Director Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $4.37, for a total value of $65,550.00. Over the last ninety days, insiders sold 34,000 shares of company stock valued at $156,280. 17.00% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ELVT. Public Employees Retirement System of Ohio purchased a new stake in shares of Elevate Credit during the second quarter valued at about $26,000. Meeder Asset Management Inc. lifted its position in shares of Elevate Credit by 938.7% during the third quarter. Meeder Asset Management Inc. now owns 13,628 shares of the company’s stock valued at $57,000 after buying an additional 12,316 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Elevate Credit during the second quarter valued at about $62,000. Russell Investments Group Ltd. purchased a new stake in shares of Elevate Credit during the second quarter valued at about $66,000. Finally, Algert Global LLC purchased a new stake in shares of Elevate Credit during the second quarter valued at about $68,000. 47.77% of the stock is owned by institutional investors and hedge funds.
About Elevate Credit
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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