Brokerages predict that Elevate Credit Inc (NYSE:ELVT) will report $0.17 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have provided estimates for Elevate Credit’s earnings, with estimates ranging from $0.13 to $0.20. Elevate Credit reported earnings of $0.09 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 88.9%. The business is expected to report its next quarterly earnings report on Monday, February 10th.
According to Zacks, analysts expect that Elevate Credit will report full year earnings of $0.69 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $0.74. For the next fiscal year, analysts anticipate that the business will post earnings of $0.84 per share, with EPS estimates ranging from $0.66 to $1.08. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Elevate Credit.
Elevate Credit (NYSE:ELVT) last released its earnings results on Monday, November 4th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.10. Elevate Credit had a net margin of 3.65% and a return on equity of 20.93%. The business had revenue of $192.80 million for the quarter, compared to the consensus estimate of $193.34 million. During the same period in the previous year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis.
In other news, major shareholder Scff Management Llc sold 65,087 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $4.10, for a total transaction of $266,856.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kenneth E. Rees sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $4.04, for a total transaction of $60,600.00. Following the sale, the director now owns 471,342 shares in the company, valued at approximately $1,904,221.68. The disclosure for this sale can be found here. Insiders have sold 341,126 shares of company stock worth $1,391,730 in the last 90 days. 17.00% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Elevate Credit by 8.6% during the second quarter. Wells Fargo & Company MN now owns 44,200 shares of the company’s stock valued at $182,000 after acquiring an additional 3,507 shares during the period. State Street Corp raised its holdings in shares of Elevate Credit by 1.2% during the third quarter. State Street Corp now owns 295,364 shares of the company’s stock valued at $1,243,000 after acquiring an additional 3,639 shares during the period. Northern Trust Corp raised its holdings in shares of Elevate Credit by 2.1% during the second quarter. Northern Trust Corp now owns 239,597 shares of the company’s stock valued at $987,000 after acquiring an additional 5,034 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Elevate Credit by 46.1% during the second quarter. Parametric Portfolio Associates LLC now owns 20,027 shares of the company’s stock valued at $83,000 after acquiring an additional 6,323 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Elevate Credit during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 48.14% of the company’s stock.
Shares of NYSE ELVT traded up $0.06 during midday trading on Friday, reaching $4.24. The company’s stock had a trading volume of 213,535 shares, compared to its average volume of 94,960. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $4.07 and a 200 day moving average price of $4.30. Elevate Credit has a one year low of $3.71 and a one year high of $5.21. The company has a market cap of $180.16 million, a price-to-earnings ratio of 10.87 and a beta of 1.33.
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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