Elevate Credit (NYSE:ELVT) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS


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Elevate Credit (NYSE:ELVT) released its quarterly earnings data on Monday. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.22, MarketWatch Earnings reports. Elevate Credit had a return on equity of 31.90% and a net margin of 5.73%.

Elevate Credit stock traded up $0.23 during midday trading on Tuesday, reaching $3.47. The stock had a trading volume of 20,841 shares, compared to its average volume of 466,829. The firm’s fifty day simple moving average is $3.30 and its 200-day simple moving average is $3.52. Elevate Credit has a 1-year low of $1.35 and a 1-year high of $4.90. The stock has a market capitalization of $123.72 million, a P/E ratio of 4.34 and a beta of 2.87.

Several research analysts have issued reports on ELVT shares. Credit Suisse Group increased their price objective on Elevate Credit from $4.90 to $5.60 and gave the stock an “outperform” rating in a research note on Tuesday, February 9th. Zacks Investment Research lowered Elevate Credit from a “hold” rating to a “sell” rating in a research note on Tuesday, April 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $3.62.

In related news, major shareholder Linda Stinson sold 19,265 shares of the business’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $4.63, for a total value of $89,196.95. Following the completion of the sale, the insider now directly owns 2,702,275 shares in the company, valued at approximately $12,511,533.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tyler W. K. Head sold 57,673 shares of the company’s stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $3.19, for a total value of $183,976.87. In the last three months, insiders sold 1,408,365 shares of company stock worth $4,708,069. 18.00% of the stock is owned by insiders.

Elevate Credit Company Profile

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States. It offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise, an installment loan product; Elastic, a line of credit product; and Today Card, a credit card product.

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Earnings History for Elevate Credit (NYSE:ELVT)

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