Zacks: Analysts Anticipate Consumer Portfolio Services, Inc. (CPSS) Will Post Quarterly Sales of $112.30 Million
Equities analysts expect that Consumer Portfolio Services, Inc. (NASDAQ:CPSS) will report $112.30 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Consumer Portfolio Services’ earnings. The highest sales estimate is $113.32 million and the lowest is $111.28 million. Consumer Portfolio Services reported sales of $108.52 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The company is scheduled to announce its next earnings report on Monday, October 16th.
On average, analysts expect that Consumer Portfolio Services will report full-year sales of $112.30 million for the current financial year, with estimates ranging from $440.29 million to $446.53 million. For the next fiscal year, analysts expect that the firm will post sales of $454.58 million per share, with estimates ranging from $442.54 million to $466.61 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Consumer Portfolio Services.
Consumer Portfolio Services (NASDAQ:CPSS) last announced its earnings results on Monday, July 24th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Consumer Portfolio Services had a net margin of 5.49% and a return on equity of 12.76%. The business had revenue of $110.07 million for the quarter, compared to analysts’ expectations of $110.31 million.
A number of research analysts recently weighed in on CPSS shares. Zacks Investment Research raised Consumer Portfolio Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “buy” rating and set a $6.00 price objective on shares of Consumer Portfolio Services in a report on Thursday, September 7th.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.97, for a total transaction of $59,550.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 35,000 shares of company stock worth $138,750. 37.50% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. UBS Group AG lifted 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 valued at $117,000 after acquiring an additional 22,987 shares in the last quarter. Hancock Holding Co. lifted 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 valued at $177,000 after acquiring an additional 7,120 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Consumer Portfolio Services in the first quarter valued at $230,000. Spark Investment Management LLC lifted 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 acquiring an additional 21,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted 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 acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds own 46.74% of the company’s stock.
Consumer Portfolio Services (NASDAQ CPSS) opened at 4.32 on Friday. Consumer Portfolio Services has a one year low of $3.66 and a one year high of $6.05. The firm has a 50-day moving average price of $4.01 and a 200-day moving average price of $4.48. The stock has a market cap of $98.20 million, a price-to-earnings ratio of 5.13 and a beta of 1.63.
Consumer Portfolio Services announced that its board has approved a share buyback program on Monday, July 24th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Consumer Portfolio Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consumer Portfolio Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.