World Acceptance Corp. (WRLD) Rating Lowered to Underperform at BMO Capital Markets
World Acceptance Corp. (NASDAQ:WRLD) was downgraded by analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Friday. They currently have a $44.00 price target on the stock. BMO Capital Markets’ price target would suggest a potential downside of 24.72% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other research firms have also recently weighed in on WRLD. Zacks Investment Research upgraded World Acceptance Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 28th. Stephens assumed coverage on World Acceptance Corp. in a report on Tuesday, November 1st. They issued an “underweight” rating and a $44.00 price target for the company.
World Acceptance Corp. (NASDAQ:WRLD) opened at 58.45 on Friday. World Acceptance Corp. has a 12 month low of $26.87 and a 12 month high of $61.76. The stock has a market capitalization of $510.15 million, a price-to-earnings ratio of 6.67 and a beta of 1.67. The stock’s 50 day moving average is $51.00 and its 200-day moving average is $46.98.
World Acceptance Corp. (NASDAQ:WRLD) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.03. The firm earned $129.30 million during the quarter, compared to analysts’ expectations of $128.86 million. World Acceptance Corp. had a return on equity of 19.14% and a net margin of 14.02%. World Acceptance Corp.’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.22 EPS. On average, equities research analysts expect that World Acceptance Corp. will post $8.08 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. acquired a new position in shares of World Acceptance Corp. during the second quarter worth about $1,041,000. Convergence Investment Partners LLC purchased a new stake in World Acceptance Corp. during the second quarter valued at about $652,000. State Board of Administration of Florida Retirement System purchased a new stake in World Acceptance Corp. during the second quarter valued at about $451,000. Smith Asset Management Group LP raised its stake in World Acceptance Corp. by 94.8% in the second quarter. Smith Asset Management Group LP now owns 8,920 shares of the company’s stock valued at $407,000 after buying an additional 4,340 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in World Acceptance Corp. by 44.0% in the second quarter. Prudential Financial Inc. now owns 40,656 shares of the company’s stock valued at $1,853,000 after buying an additional 12,420 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.
World Acceptance Corp. Company Profile
World Acceptance Corporation operates a small-loan consumer finance business in 15 states and Mexico as of March 31, 2016. The Company offers short-term small installment loans, medium-term larger installment loans, related credit insurance and ancillary products and services to individuals. The Company offers standardized installment loans generally between $300 and $4,000 through 1,339 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Wisconsin and Mexico as of March 31, 2016.
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