Elevate Credit Inc (NYSE:ELVT) Expected to Post Earnings of $0.02 Per Share
Brokerages expect that Elevate Credit Inc (NYSE:ELVT) will announce earnings per share (EPS) of $0.02 for the current quarter, according to Zacks. Two analysts have made estimates for Elevate Credit’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at ($0.05). Elevate Credit also reported earnings of $0.02 per share in the same quarter last year. The business is scheduled to report its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that Elevate Credit will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.58 to $0.62. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.76 per share, with EPS estimates ranging from $0.63 to $0.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Elevate Credit.
Elevate Credit (NYSE:ELVT) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. Elevate Credit had a return on equity of 19.19% and a net margin of 2.45%. The company had revenue of $177.76 million for the quarter, compared to analyst estimates of $187.48 million. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year.
In other news, CEO Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $4.46, for a total value of $66,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Scff Management Llc sold 35,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $4.43, for a total value of $155,050.00. The disclosure for this sale can be found here. Insiders sold a total of 644,332 shares of company stock worth $2,756,342 over the last ninety days. Corporate insiders own 17.00% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in Elevate Credit in the 2nd quarter worth $26,000. Assenagon Asset Management S.A. purchased a new position in Elevate Credit in the 1st quarter valued at about $45,000. Jane Street Group LLC acquired a new stake in shares of Elevate Credit during the second quarter valued at about $62,000. Russell Investments Group Ltd. acquired 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 worth about $68,000. Institutional investors and hedge funds own 47.95% of the company’s stock.
Elevate Credit stock traded up $0.09 during trading on Friday, hitting $4.55. The company’s stock had a trading volume of 84,264 shares, compared to its average volume of 125,263. The stock has a market capitalization of $185.36 million, a price-to-earnings ratio of 11.67 and a beta of 1.35. The stock’s fifty day moving average is $4.55 and its 200 day moving average is $4.42. Elevate Credit has a 1-year low of $3.71 and a 1-year high of $8.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.11 and a current ratio of 1.11.
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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