Enova International (NYSE:ENVA) Stock Price Down 6.4% – What’s Next?

Enova International, Inc. (NYSE:ENVA) shares dropped 6.4% on Friday. The company traded as low as $166.90 and last traded at $165.4210. 245,439 shares traded hands during trading, a decline of 24% from the average session volume of 321,571 shares. The stock had previously closed at $176.78.

More Enova International News

Here are the key news stories impacting Enova International this week:

• Positive Sentiment: Analysts raised their targets and maintained bullish ratings. TD Cowen increased its target to $224 and assigned a “buy” rating; Citizens JMP raised its target to $220 with a “market outperform” rating; and Stephens lifted its target to $225 with an “overweight” rating. These targets imply roughly 33%–36% potential upside from the referenced share price. TD Cowen recommendation
• Positive Sentiment: Third-quarter results exceeded expectations. Enova reported adjusted EPS of $4.48, above the $4.42 consensus estimate, while revenue reached approximately $1.01 billion versus expectations of $1 billion. Revenue rose 25.7% year over year, and adjusted EPS increased 33% from $3.36 a year earlier. Enova third-quarter results
• Positive Sentiment: Operating growth remained strong. Loan originations climbed 31%, the loan book reached a record level, and the quarter marked the first time quarterly revenue surpassed $1 billion. Management attributed the performance to broad strength across its online-lending portfolio. Enova surpasses $1 billion in quarterly revenue
• Negative Sentiment: The termination of the Grasshopper Bank deal may be weighing on sentiment. The ended bank charter transaction removes a potential strategic benefit and may have prompted investors to reassess Enova’s future banking strategy. Blue Tower analysis of Enova’s Grasshopper Bank deal

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Enova International from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. TD Cowen increased their target price on shares of Enova International from $220.00 to $224.00 and gave the stock a “buy” rating in a report on Friday. Stephens boosted their price objective on shares of Enova International from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Zacks Research downgraded shares of Enova International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Enova International in a research report on Thursday, October 15th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Enova International has a consensus rating of “Moderate Buy” and an average price target of $235.67.

Enova International Stock Performance

The company has a market cap of $4.11 billion, a price-to-earnings ratio of 11.37 and a beta of 1.28. The company has a debt-to-equity ratio of 3.35, a quick ratio of 18.42 and a current ratio of 18.42. The company has a fifty day moving average of $200.48 and a two-hundred day moving average of $199.12.

Enova International (NYSE:ENVA) last released its earnings results on Thursday, October 22nd. The credit services provider reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.42 by $0.06. Enova International had a net margin of 10.47% and a return on equity of 28.01%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm posted $3.36 EPS. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that Enova International, Inc. will post 16.33 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman David Fisher sold 20,750 shares of Enova International stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $178.24, for a total value of $3,698,480.00. Following the completion of the transaction, the chairman directly owned 306,444 shares of the company’s stock, valued at approximately $54,620,578.56. This trade represents a 6.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 39,319 shares of company stock worth $8,185,473. Company insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Enova International

Several large investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in Enova International in the third quarter worth approximately $30,000. Integrated Wealth Concepts LLC acquired a new position in Enova International in the second quarter valued at approximately $52,000. McIlrath & Eck LLC bought a new position in shares of Enova International during the 1st quarter worth approximately $34,000. Pacer Advisors Inc. boosted its holdings in shares of Enova International by 58.5% during the 1st quarter. Pacer Advisors Inc. now owns 412 shares of the credit services provider’s stock worth $56,000 after buying an additional 152 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Enova International by 1,503.3% during the 1st quarter. Parallel Advisors LLC now owns 481 shares of the credit services provider’s stock worth $65,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 89.43% of the company’s stock.

Enova International Company Profile

Enova International, Inc is a financial technology company that provides online financial services to consumers and small businesses. Its offerings include consumer installment loans and lines of credit, as well as small-business financing products designed to provide access to working capital. The company serves customers who may have limited access to traditional bank credit and uses data-driven underwriting and technology-enabled platforms in its lending operations.

Enova markets its products through brands including CashNetUSA and NetCredit, which provide consumer financial services, and OnDeck, which focuses on lending to small businesses.