Enova International, Inc. (ENVA) Rating Increased to Hold at Zacks Investment Research
Enova International, Inc. (NYSE:ENVA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Enova International, Inc. is a provider of online financial services. It offers loans to customers in the United States and in the United Kingdom, Australia and Canada. The Company’s customers include consumers who have bank accounts but use alternative financial credit services because of their limited access to more traditional consumer credit from banks, thrifts, credit card companies and other lenders. Enova International, Inc is headquartered in Chicago. “
A number of other analysts have also recently issued reports on ENVA. Maxim Group initiated coverage on Enova International in a research note on Wednesday, July 12th. They set a “buy” rating and a $18.00 target price for the company. BidaskClub raised Enova International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $17.00 target price on shares of Enova International in a research note on Friday, July 14th. Finally, ValuEngine cut Enova International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.67.
Shares of Enova International (ENVA) traded up 2.06% on Tuesday, hitting $14.85. 276,163 shares of the company’s stock traded hands. The company has a market cap of $500.19 million, a price-to-earnings ratio of 11.96 and a beta of 3.48. Enova International has a 1-year low of $8.75 and a 1-year high of $16.80. The firm’s 50-day moving average price is $13.84 and its 200 day moving average price is $13.94.
Enova International (NYSE:ENVA) last announced its quarterly earnings results on Thursday, October 26th. The credit services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The company had revenue of $217.88 million during the quarter, compared to analysts’ expectations of $210.27 million. Enova International had a return on equity of 14.85% and a net margin of 3.87%. Enova International’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. On average, equities research analysts expect that Enova International will post $1.27 earnings per share for the current year.
Enova International announced that its board has initiated a share repurchase program on Friday, September 15th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the credit services provider to repurchase up to 63% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ENVA. Bank of New York Mellon Corp increased its stake in Enova International by 10.2% during the 1st quarter. Bank of New York Mellon Corp now owns 338,979 shares of the credit services provider’s stock worth $5,035,000 after purchasing an additional 31,282 shares in the last quarter. Arizona State Retirement System increased its stake in Enova International by 1.7% during the 1st quarter. Arizona State Retirement System now owns 12,164 shares of the credit services provider’s stock worth $181,000 after purchasing an additional 200 shares in the last quarter. OppenheimerFunds Inc. increased its stake in Enova International by 19.1% during the 1st quarter. OppenheimerFunds Inc. now owns 39,458 shares of the credit services provider’s stock worth $586,000 after purchasing an additional 6,340 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Enova International by 113.4% during the 1st quarter. TIAA CREF Investment Management LLC now owns 186,898 shares of the credit services provider’s stock worth $2,775,000 after purchasing an additional 99,310 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Enova International by 3.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 41,993 shares of the credit services provider’s stock worth $624,000 after purchasing an additional 1,431 shares in the last quarter. 95.26% of the stock is owned by institutional investors and hedge funds.
About Enova International
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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