Analysts forecast that Elevate Credit Inc (NYSE:ELVT) will announce sales of $186.49 million for the current quarter, according to Zacks. Two analysts have made estimates for Elevate Credit’s earnings, with estimates ranging from $185.87 million to $187.10 million. Elevate Credit posted sales of $184.38 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The company is expected to issue its next earnings report on Monday, July 29th.
According to Zacks, analysts expect that Elevate Credit will report full-year sales of $813.79 million for the current fiscal year, with estimates ranging from $811.40 million to $816.17 million. For the next year, analysts forecast that the business will post sales of $876.85 million, with estimates ranging from $850.00 million to $903.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Elevate Credit.
Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, April 29th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. The firm had revenue of $189.50 million for the quarter, compared to analyst estimates of $195.52 million. Elevate Credit had a return on equity of 18.02% and a net margin of 2.09%. Elevate Credit’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share.
ELVT has been the topic of several analyst reports. Zacks Investment Research raised Elevate Credit from a “sell” rating to a “hold” rating in a report on Friday, April 19th. ValuEngine lowered Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Maxim Group reaffirmed a “buy” rating and set a $10.00 target price on shares of Elevate Credit in a report on Tuesday, February 12th. BTIG Research lowered Elevate Credit from a “buy” rating to a “neutral” rating and set a $4.66 target price on the stock. in a report on Thursday, February 14th. Finally, UBS Group lowered Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.65.
Elevate Credit stock traded up $0.06 during midday trading on Friday, hitting $4.60. 69,431 shares of the company were exchanged, compared to its average volume of 138,045. The firm has a market cap of $197.45 million, a price-to-earnings ratio of 11.79 and a beta of 1.76. Elevate Credit has a fifty-two week low of $3.71 and a fifty-two week high of $11.27. The company has a quick ratio of 1.06, a current ratio of 1.10 and a debt-to-equity ratio of 0.12.
In other Elevate Credit news, COO Jason Harvison sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $4.36, for a total transaction of $174,400.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kenneth E. Rees sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $4.61, for a total value of $69,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,000 shares of company stock worth $310,150. 17.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Prescott Group Capital Management L.L.C. boosted its position in Elevate Credit by 72.9% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 1,801,576 shares of the company’s stock worth $8,071,000 after purchasing an additional 759,482 shares in the last quarter. Nantahala Capital Management LLC boosted its position in Elevate Credit by 256.8% during the fourth quarter. Nantahala Capital Management LLC now owns 1,582,364 shares of the company’s stock worth $7,089,000 after purchasing an additional 1,138,873 shares in the last quarter. BlackRock Inc. boosted its position in Elevate Credit by 23.2% during the third quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock worth $10,516,000 after purchasing an additional 246,120 shares in the last quarter. 683 Capital Management LLC purchased a new position in Elevate Credit during the fourth quarter worth approximately $4,683,000. Finally, Vanguard Group Inc boosted its position in Elevate Credit by 12.4% during the third quarter. Vanguard Group Inc now owns 990,375 shares of the company’s stock worth $7,983,000 after purchasing an additional 109,257 shares in the last quarter. Institutional investors own 48.70% of the company’s stock.
Elevate Credit Company Profile
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, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.
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