Enova International (ENVA) to Buyback $25.00 million in Shares
Enova International (NYSE:ENVA) declared that its Board of Directors has authorized a stock buyback plan, which allows the company to repurchase $25.00 million in outstanding shares on Friday, September 15th, EventVestor reports. This repurchase authorization allows the credit services provider to purchase up to 63% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Shares of Enova International (NYSE ENVA) traded up 0.82% during midday trading on Friday, reaching $12.30. 1,366,043 shares of the company’s stock traded hands. Enova International has a 52-week low of $8.68 and a 52-week high of $16.80. The stock has a market cap of $414.30 million, a P/E ratio of 9.90 and a beta of 3.44. The stock has a 50-day moving average price of $12.52 and a 200-day moving average price of $13.92.
Enova International (NYSE:ENVA) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Enova International had a return on equity of 15.97% and a net margin of 5.42%. The company had revenue of $189.90 million during the quarter, compared to the consensus estimate of $193.70 million. During the same period last year, the company earned $0.25 EPS. Enova International’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts forecast that Enova International will post $1.29 earnings per share for the current year.
Several equities analysts recently weighed in on ENVA shares. BidaskClub lowered shares of Enova International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and issued a $17.00 price objective on shares of Enova International in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Enova International from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, June 2nd. Maxim Group started coverage on shares of Enova International in a report on Wednesday, July 12th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, ValuEngine upgraded shares of Enova International from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $15.00.
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Enova International Company Profile
Enova International, Inc is a technology and analytics company. The Company provides online financial services. As of December 31, 2016, the Company offered or arranged loans to consumers in 33 states in the United States and in the United Kingdom and Brazil. As of December 31, 2016, it also offered financing to small businesses in all 50 states and Washington DC in the United States.
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