Q1 2018 EPS Estimates for Consumer Portfolio Services, Inc. (CPSS) Increased by Analyst
Consumer Portfolio Services, Inc. (NASDAQ:CPSS) – Equities research analysts at Jefferies Group increased their Q1 2018 earnings per share estimates for shares of Consumer Portfolio Services in a research note issued on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the credit services provider will post earnings of $0.16 per share for the quarter, up from their previous forecast of $0.15. Jefferies Group has a “Buy” rating and a $6.00 price objective on the stock.
Separately, Zacks Investment Research lowered shares of Consumer Portfolio Services from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th.
Consumer Portfolio Services (NASDAQ:CPSS) traded down 0.180% during mid-day trading on Friday, hitting $4.442. 12,079 shares of the stock traded hands. Consumer Portfolio Services has a 12 month low of $3.66 and a 12 month high of $6.05. The company’s 50 day moving average is $4.51 and its 200 day moving average is $4.41. The company has a market cap of $100.98 million, a P/E ratio of 5.276 and a beta of 1.63.
Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings data on Monday, October 23rd. The credit services provider reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $109.49 million for the quarter, compared to analysts’ expectations of $112.39 million. Consumer Portfolio Services had a net margin of 4.87% and a return on equity of 11.16%.
A number of hedge funds have recently added to or reduced their stakes in CPSS. Morgan Stanley lifted its position in Consumer Portfolio Services by 12.5% during the first quarter. Morgan Stanley now owns 309,162 shares of the credit services provider’s stock valued at $1,456,000 after purchasing an additional 34,327 shares during the last quarter. UBS Group AG lifted its position in Consumer Portfolio Services by 1,213.0% during the first quarter. UBS Group AG now owns 24,882 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 22,987 shares during the last quarter. Spark Investment Management LLC lifted its position in Consumer Portfolio Services by 53.2% during the second quarter. Spark Investment Management LLC now owns 61,600 shares of the credit services provider’s stock valued at $280,000 after purchasing an additional 21,400 shares during the last quarter. Hancock Holding Co. lifted its position in Consumer Portfolio Services by 17.6% during the second quarter. Hancock Holding Co. now owns 44,185 shares of the credit services provider’s stock valued at $201,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Consumer Portfolio Services by 0.9% during the second quarter. Vanguard Group Inc. now owns 760,620 shares of the credit services provider’s stock valued at $3,461,000 after purchasing an additional 6,530 shares during the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 15,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $3.97, for a total transaction of $59,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 35,000 shares of company stock valued at $138,750 in the last quarter. 37.50% of the stock is owned by company insiders.
Consumer Portfolio Services declared that its board has approved a stock buyback plan on Monday, July 24th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the credit services provider to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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