Zacks: Analysts Expect Elevate Credit Inc (NYSE:ELVT) Will Post Earnings of $0.17 Per Share

Equities analysts expect that Elevate Credit Inc (NYSE:ELVT) will announce earnings per share of $0.17 for the current quarter, Zacks reports. Two analysts have issued estimates for Elevate Credit’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.16. Elevate Credit reported earnings of $0.30 per share in the same quarter last year, which would indicate a negative year over year growth rate of 43.3%. The firm is expected to announce its next earnings report on Monday, May 4th.

On average, analysts expect that Elevate Credit will report full year earnings of $0.85 per share for the current year. For the next year, analysts forecast that the business will report earnings of $0.97 per share, with EPS estimates ranging from $0.90 to $1.03. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Elevate Credit.

Elevate Credit (NYSE:ELVT) last issued its earnings results on Monday, February 10th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $186.92 million for the quarter, compared to the consensus estimate of $186.85 million. Elevate Credit had a return on equity of 22.38% and a net margin of 4.31%.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Elevate Credit from a “buy” rating to a “hold” rating in a research note on Thursday, March 26th. ValuEngine cut Elevate Credit from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, Stephens cut Elevate Credit from an “equal weight” rating to an “underweight” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.63.

In other news, major shareholder Scff Management Llc sold 45,206 shares of Elevate Credit stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $1.09, for a total value of $49,274.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Scgf Iii Management Llc sold 56,693 shares of Elevate Credit stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $0.98, for a total value of $55,559.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 773,334 shares of company stock valued at $2,140,769. Company insiders own 17.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in ELVT. California Public Employees Retirement System boosted its holdings in shares of Elevate Credit by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 187,600 shares of the company’s stock worth $790,000 after purchasing an additional 10,300 shares during the period. State Street Corp boosted its holdings in shares of Elevate Credit by 1.2% in the 3rd quarter. State Street Corp now owns 295,364 shares of the company’s stock worth $1,243,000 after purchasing an additional 3,639 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Elevate Credit by 166.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,039 shares of the company’s stock valued at $72,000 after acquiring an additional 10,639 shares during the period. Squarepoint Ops LLC boosted its holdings in Elevate Credit by 37.3% during the 3rd quarter. Squarepoint Ops LLC now owns 38,326 shares of the company’s stock valued at $161,000 after acquiring an additional 10,417 shares during the period. Finally, Millennium Management LLC boosted its holdings in Elevate Credit by 57.8% during the 3rd quarter. Millennium Management LLC now owns 18,483 shares of the company’s stock valued at $77,000 after acquiring an additional 6,769 shares during the period. Hedge funds and other institutional investors own 40.27% of the company’s stock.

ELVT traded up $0.06 on Monday, hitting $0.99. 282,363 shares of the company’s stock traded hands, compared to its average volume of 331,354. The company’s 50 day simple moving average is $2.62 and its 200-day simple moving average is $3.92. The firm has a market cap of $39.95 million, a price-to-earnings ratio of 1.36 and a beta of 2.64. Elevate Credit has a one year low of $0.89 and a one year high of $5.98. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.09.

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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