Consumer Portfolio Services, Inc. (CPSS) to Post Q3 2017 Earnings of $0.18 Per Share, Jefferies Group Forecasts
Consumer Portfolio Services, Inc. (NASDAQ:CPSS) – Research analysts at Jefferies Group dropped their Q3 2017 earnings estimates for Consumer Portfolio Services in a research report issued on Wednesday. Jefferies Group analyst J. Hecht now expects that the credit services provider will post earnings per share of $0.18 for the quarter, down from their previous estimate of $0.19. Jefferies Group also issued estimates for Consumer Portfolio Services’ Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $0.70 EPS, Q1 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $0.75 EPS.
Separately, Zacks Investment Research raised Consumer Portfolio Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th.
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Consumer Portfolio Services (NASDAQ:CPSS) opened at 4.18 on Thursday. Consumer Portfolio Services has a 12 month low of $3.67 and a 12 month high of $6.05. The stock’s 50 day moving average price is $4.48 and its 200-day moving average price is $4.73. The company has a market capitalization of $96.73 million, a P/E ratio of 4.48 and a beta of 1.72.
Consumer Portfolio Services (NASDAQ:CPSS) last issued its quarterly earnings data on Monday, July 24th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Consumer Portfolio Services had a return on equity of 12.90% and a net margin of 5.49%. The company had revenue of $110.07 million for the quarter, compared to the consensus estimate of $110.31 million.
Consumer Portfolio Services declared that its Board of Directors has approved a share buyback program on Monday, July 24th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, major shareholder Second Curve Capital Llc sold 10,000 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $4.52, for a total transaction of $45,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,000 shares of company stock worth $90,050 over the last three months. Insiders own 37.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. UBS Group AG boosted its position in shares of Consumer Portfolio Services by 1,213.0% in the first quarter. UBS Group AG now owns 24,882 shares of the credit services provider’s stock worth $117,000 after buying an additional 22,987 shares in the last quarter. Algert Global LLC boosted its position in shares of Consumer Portfolio Services by 12.1% in the first quarter. Algert Global LLC now owns 31,928 shares of the credit services provider’s stock worth $150,000 after buying an additional 3,450 shares in the last quarter. Hancock Holding Co. boosted its position in shares of Consumer Portfolio Services by 23.4% in the first quarter. Hancock Holding Co. now owns 37,570 shares of the credit services provider’s stock worth $177,000 after buying an additional 7,120 shares in the last quarter. Oxford Asset Management bought a new position in shares of Consumer Portfolio Services during the first quarter worth approximately $230,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Consumer Portfolio Services by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 70,127 shares of the credit services provider’s stock worth $330,000 after buying an additional 397 shares in the last quarter. 47.46% of the stock is currently owned by institutional investors.
Consumer Portfolio Services Company Profile
Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.
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