Elevate Credit (NYSE:ELVT) Issues FY19 Earnings Guidance

Elevate Credit (NYSE:ELVT) updated its FY19 earnings guidance on Monday. The company provided EPS guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.59. The company issued revenue guidance of $750-770 million, compared to the consensus revenue estimate of $813.10 million.Elevate Credit also updated its FY 2019 guidance to $0.55-0.65 EPS.

Several brokerages have issued reports on ELVT. ValuEngine downgraded Elevate Credit from a hold rating to a sell rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded Elevate Credit from a hold rating to a strong-buy rating and set a $4.75 price objective for the company in a research report on Tuesday, July 2nd. Finally, BTIG Research reiterated a buy rating and issued a $6.00 price objective on shares of Elevate Credit in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $6.25.

NYSE:ELVT traded down $0.01 on Wednesday, reaching $4.16. The company’s stock had a trading volume of 247,920 shares, compared to its average volume of 105,178. Elevate Credit has a 1-year low of $3.71 and a 1-year high of $10.47. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.12. The stock has a market cap of $180.98 million, a price-to-earnings ratio of 10.67 and a beta of 1.41. The stock’s 50-day moving average price is $4.26.

Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, July 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $177.76 million during the quarter, compared to analysts’ expectations of $187.48 million. Elevate Credit had a return on equity of 18.02% and a net margin of 2.09%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 earnings per share. As a group, equities research analysts forecast that Elevate Credit will post 0.6 earnings per share for the current fiscal year.

In other Elevate Credit news, major shareholder Scff Management Llc sold 51,695 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $4.25, for a total value of $219,703.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were 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. Insiders have sold 771,019 shares of company stock worth $3,298,718 in the last quarter. 17.00% of the stock is currently owned by corporate insiders.

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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Earnings History and Estimates for Elevate Credit (NYSE:ELVT)

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