Enova International (NYSE:ENVA) Hits New 12-Month High on Earnings Beat

Enova International, Inc. (NYSE:ENVA) hit a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $89.67 and last traded at $88.97, with a volume of 163362 shares changing hands. The stock had previously closed at $86.17.

The credit services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Enova International had a net margin of 7.52% and a return on equity of 16.53%. The firm had revenue of $689.92 million during the quarter, compared to analyst estimates of $666.33 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. Enova International’s revenue for the quarter was up 25.1% on a year-over-year basis.

Enova International declared that its board has approved a stock buyback plan on Monday, August 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the credit services provider to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

ENVA has been the subject of several research reports. JMP Securities increased their price objective on shares of Enova International from $103.00 to $109.00 and gave the company a “market outperform” rating in a research report on Wednesday. Janney Montgomery Scott downgraded shares of Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. TD Cowen increased their target price on shares of Enova International from $85.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday. StockNews.com raised shares of Enova International from a “hold” rating to a “buy” rating in a research note on Monday. Finally, BTIG Research raised their price target on shares of Enova International from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.33.

Insider Buying and Selling at Enova International

In other Enova International news, Director Linda Johnson Rice sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $88.29, for a total transaction of $238,383.00. Following the transaction, the director now owns 7,486 shares of the company’s stock, valued at approximately $660,938.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Enova International news, Director Linda Johnson Rice sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $88.29, for a total transaction of $238,383.00. Following the transaction, the director now owns 7,486 shares of the company’s stock, valued at approximately $660,938.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Fisher sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $84.45, for a total transaction of $844,500.00. Following the transaction, the chief executive officer now directly owns 413,239 shares in the company, valued at $34,898,033.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,725 shares of company stock valued at $4,690,053. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Enova International

A number of institutional investors have recently modified their holdings of ENVA. BNP Paribas Financial Markets boosted its holdings in shares of Enova International by 172.5% in the 1st quarter. BNP Paribas Financial Markets now owns 51,781 shares of the credit services provider’s stock valued at $3,253,000 after buying an additional 32,779 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Enova International in the 1st quarter worth approximately $223,000. Foundry Partners LLC boosted its stake in Enova International by 11.3% in the 1st quarter. Foundry Partners LLC now owns 153,427 shares of the credit services provider’s stock worth $9,640,000 after purchasing an additional 15,519 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Enova International by 83.8% in the 1st quarter. J.Safra Asset Management Corp now owns 930 shares of the credit services provider’s stock worth $58,000 after purchasing an additional 424 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Enova International by 21.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock worth $228,000 after purchasing an additional 636 shares in the last quarter. 89.43% of the stock is currently owned by institutional investors.

Enova International Stock Up 0.9 %

The business’s 50 day moving average is $82.98 and its 200 day moving average is $71.38. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 15.86 and a beta of 1.43. The company has a debt-to-equity ratio of 2.78, a quick ratio of 12.07 and a current ratio of 12.07.

About Enova International

Enova International, Inc, a technology and analytics company, provides online financial services in the United States, Brazil, and internationally. The company provides installment loans; line of credit accounts; CSO programs, including arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents; and bank programs, such as marketing services and loan servicing for near-prime unsecured consumer installment loan.