Zacks: Brokerages Expect Consumer Portfolio Services, Inc. (CPSS) Will Post Earnings of $0.16 Per Share
Equities analysts expect that Consumer Portfolio Services, Inc. (NASDAQ:CPSS) will report earnings of $0.16 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Consumer Portfolio Services’ earnings. Consumer Portfolio Services reported earnings per share of $0.26 during the same quarter last year, which would indicate a negative year-over-year growth rate of 38.5%. The company is expected to announce its next earnings report on Tuesday, February 13th.
On average, analysts expect that Consumer Portfolio Services will report full year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.66. For the next fiscal year, analysts anticipate that the company will report earnings of $0.70 per share, with EPS estimates ranging from $0.61 to $0.79. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Consumer Portfolio Services.
Consumer Portfolio Services (NASDAQ:CPSS) last announced its quarterly earnings results on Monday, October 23rd. The credit services provider reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Consumer Portfolio Services had a return on equity of 11.09% and a net margin of 4.87%. The company had revenue of $109.49 million during the quarter, compared to analyst estimates of $112.39 million.
A number of analysts recently commented on the company. Zacks Investment Research raised Consumer Portfolio Services from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. TheStreet lowered Consumer Portfolio Services from a “c” rating to a “d” rating in a research note on Tuesday, October 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Consumer Portfolio Services in a research note on Thursday, September 7th.
Shares of Consumer Portfolio Services (CPSS) traded down $0.01 during mid-day trading on Thursday, reaching $4.16. The company had a trading volume of 41,200 shares, compared to its average volume of 25,973. Consumer Portfolio Services has a 12 month low of $3.66 and a 12 month high of $6.05. The stock has a market capitalization of $90.58, a price-to-earnings ratio of 5.47 and a beta of 1.94. The company has a debt-to-equity ratio of 10.89, a current ratio of 17.19 and a quick ratio of 14.96.
Consumer Portfolio Services declared that its Board of Directors has approved a stock repurchase plan on Monday, July 24th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the credit services provider to reacquire up to 9.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.97, for a total transaction of $59,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. UBS Group AG lifted its position in Consumer Portfolio Services by 1,213.0% during the first quarter. UBS Group AG now owns 24,882 shares of the credit services provider’s stock valued at $117,000 after buying an additional 22,987 shares during the period. Macquarie Group Ltd. purchased a new position in Consumer Portfolio Services during the third quarter valued at $114,000. Hancock Holding Co. lifted its position in Consumer Portfolio Services by 17.6% during the second quarter. Hancock Holding Co. now owns 44,185 shares of the credit services provider’s stock valued at $201,000 after buying an additional 6,615 shares during the period. Spark Investment Management LLC lifted its position in Consumer Portfolio Services by 53.2% during the second quarter. Spark Investment Management LLC now owns 61,600 shares of the credit services provider’s stock valued at $280,000 after buying an additional 21,400 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Consumer Portfolio Services by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 70,127 shares of the credit services provider’s stock valued at $330,000 after buying an additional 397 shares during the period. 46.84% of the stock is owned by institutional investors and hedge funds.
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About Consumer Portfolio Services
Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.
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