Consumer Portfolio Services, Inc. (CPSS) Expected to Post Earnings of $0.17 Per Share
Brokerages expect Consumer Portfolio Services, Inc. (NASDAQ:CPSS) to report earnings per share (EPS) of $0.17 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Consumer Portfolio Services’ earnings. The lowest EPS estimate is $0.16 and the highest is $0.18. Consumer Portfolio Services reported earnings per share of $0.26 in the same quarter last year, which indicates a negative year-over-year growth rate of 34.6%. The business is scheduled to report its next quarterly earnings results on Monday, October 16th.
On average, analysts expect that Consumer Portfolio Services will report full-year earnings of $0.69 per share for the current financial year, with EPS estimates ranging from $0.67 to $0.70. For the next fiscal year, analysts expect that the company will report earnings of $0.78 per share, with EPS estimates ranging from $0.75 to $0.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Consumer Portfolio Services.
Consumer Portfolio Services (NASDAQ:CPSS) last announced its quarterly earnings results on Monday, July 24th. The credit services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $110.07 million during the quarter, compared to analyst estimates of $110.31 million. Consumer Portfolio Services had a net margin of 4.15% and a return on equity of 9.58%.
Separately, Zacks Investment Research cut Consumer Portfolio Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th.
Shares of Consumer Portfolio Services (NASDAQ CPSS) opened at 4.00 on Monday. The company has a 50 day moving average of $4.46 and a 200-day moving average of $4.69. The firm has a market capitalization of $90.93 million, a P/E ratio of 4.75 and a beta of 1.70. Consumer Portfolio Services has a 12 month low of $3.72 and a 12 month high of $6.05.
Consumer Portfolio Services announced that its Board of Directors has approved a stock buyback plan 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 purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $4.52, for a total value of $45,200.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 20,000 shares of company stock worth $90,050 over the last quarter. 37.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of CPSS. Continental Advisors LLC raised its position in shares of Consumer Portfolio Services by 1.0% in the first quarter. Continental Advisors LLC now owns 1,036,309 shares of the credit services provider’s stock valued at $4,881,000 after buying an additional 10,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Consumer Portfolio Services by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 517,900 shares of the credit services provider’s stock valued at $2,652,000 after buying an additional 9,100 shares during the period. Morgan Stanley raised its position in shares of Consumer Portfolio Services by 12.5% in the first quarter. Morgan Stanley now owns 309,162 shares of the credit services provider’s stock valued at $1,456,000 after buying an additional 34,327 shares during the period. Goldman Sachs Group Inc. raised 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 valued at $330,000 after buying an additional 397 shares during the period. Finally, Spark Investment Management LLC raised its position in shares of Consumer Portfolio Services by 53.2% in the second quarter. Spark Investment Management LLC now owns 61,600 shares of the credit services provider’s stock valued at $280,000 after buying an additional 21,400 shares during the period. 48.19% of the stock is currently owned by hedge funds and other institutional investors.
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About Consumer Portfolio Services
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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