Analysts forecast that Elevate Credit Inc (NYSE:ELVT) will post sales of $212.42 million for the current quarter, according to Zacks. Two analysts have made estimates for Elevate Credit’s earnings, with the highest sales estimate coming in at $212.70 million and the lowest estimate coming in at $212.13 million. Elevate Credit reported sales of $193.44 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.8%. The business is expected to announce its next quarterly earnings report on Thursday, February 14th.
On average, analysts expect that Elevate Credit will report full-year sales of $791.81 million for the current financial year, with estimates ranging from $791.52 million to $792.10 million. For the next financial year, analysts expect that the business will report sales of $866.40 million, with estimates ranging from $847.00 million to $885.79 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Elevate Credit.
Elevate Credit (NYSE:ELVT) last announced its earnings results on Monday, October 29th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.23). Elevate Credit had a positive return on equity of 12.69% and a negative net margin of 0.49%. The business had revenue of $201.48 million for the quarter, compared to analysts’ expectations of $201.71 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year.
ELVT has been the topic of several research analyst reports. ValuEngine downgraded Elevate Credit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. JMP Securities restated a “market perform” rating on shares of Elevate Credit in a research note on Tuesday, October 30th. William Blair restated a “market perform” rating on shares of Elevate Credit in a research note on Tuesday, October 30th. Stephens set a $5.00 target price on Elevate Credit and gave the stock a “hold” rating in a research note on Tuesday, October 30th. Finally, Credit Suisse Group dropped their target price on Elevate Credit from $10.50 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Elevate Credit has a consensus rating of “Hold” and a consensus target price of $10.00.
Shares of ELVT stock opened at $4.54 on Friday. Elevate Credit has a 1-year low of $3.71 and a 1-year high of $11.27. The firm has a market cap of $193.09 million, a P/E ratio of 28.38 and a beta of 3.23.
In other news, Director John C. Dean purchased 33,000 shares of the stock in a transaction on Wednesday, November 28th. The stock was bought at an average price of $4.52 per share, with a total value of $149,160.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bradley R. Strock purchased 15,000 shares of the stock in a transaction on Wednesday, November 7th. The shares were purchased at an average cost of $4.43 per share, with a total value of $66,450.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 53,000 shares of company stock valued at $236,860 and have sold 917,644 shares valued at $3,732,103. Insiders own 32.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can acquired a new position in shares of Elevate Credit in the 2nd quarter valued at about $172,000. Acadian Asset Management LLC lifted its holdings in shares of Elevate Credit by 309.7% in the 2nd quarter. Acadian Asset Management LLC now owns 96,656 shares of the company’s stock valued at $817,000 after buying an additional 73,064 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Elevate Credit in the 2nd quarter valued at about $141,000. Brighton Jones LLC lifted its holdings in shares of Elevate Credit by 96.4% in the 2nd quarter. Brighton Jones LLC now owns 28,673 shares of the company’s stock valued at $243,000 after buying an additional 14,072 shares during the period. Finally, Mackay Shields LLC lifted its holdings in shares of Elevate Credit by 22.9% in the 2nd quarter. Mackay Shields LLC now owns 52,600 shares of the company’s stock valued at $445,000 after buying an additional 9,800 shares during the period. 42.97% of the stock is owned by institutional investors.
About Elevate Credit
Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States and the United Kingdom. The company offers unsecured online installment loans and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.
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