$192.30 Million in Sales Expected for Elevate Credit Inc (NYSE:ELVT) This Quarter
Wall Street analysts predict that Elevate Credit Inc (NYSE:ELVT) will announce sales of $192.30 million for the current quarter, according to Zacks. Two analysts have made estimates for Elevate Credit’s earnings, with estimates ranging from $191.40 million to $193.20 million. Elevate Credit reported sales of $201.48 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that Elevate Credit will report full year sales of $756.94 million for the current fiscal year, with estimates ranging from $754.28 million to $759.60 million. For the next year, analysts forecast that the company will report sales of $793.74 million, with estimates ranging from $773.98 million to $813.50 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Elevate Credit.
Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.06. The firm had revenue of $177.76 million for the quarter, compared to analyst estimates of $187.48 million. Elevate Credit had a net margin of 2.45% and a return on equity of 19.19%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS.
In other news, Director Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $4.95, for a total value of $74,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Scff Management Llc sold 31,792 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $4.15, for a total transaction of $131,936.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 826,550 shares of company stock worth $3,537,187. 17.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in Elevate Credit by 80.2% during the fourth quarter. Bank of New York Mellon Corp now owns 100,229 shares of the company’s stock worth $449,000 after buying an additional 44,609 shares in the last quarter. Geode Capital Management LLC grew its holdings in Elevate Credit by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 173,812 shares of the company’s stock worth $778,000 after buying an additional 9,877 shares in the last quarter. Bank of America Corp DE grew its holdings in Elevate Credit by 270.2% during the fourth quarter. Bank of America Corp DE now owns 30,765 shares of the company’s stock worth $138,000 after buying an additional 22,455 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Elevate Credit by 87.4% during the fourth quarter. Squarepoint Ops LLC now owns 42,172 shares of the company’s stock worth $189,000 after buying an additional 19,672 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Elevate Credit during the first quarter worth $45,000. Institutional investors and hedge funds own 51.35% of the company’s stock.
Elevate Credit stock traded up $0.07 on Friday, hitting $4.83. The company’s stock had a trading volume of 1,412 shares, compared to its average volume of 140,657. The firm has a market cap of $210.52 million, a P/E ratio of 12.39 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $4.48 and a 200-day moving average price of $4.44. Elevate Credit has a one year low of $3.71 and a one year high of $10.47.
About Elevate Credit
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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