Elevate Credit (ELVT) Expected to Post Earnings of $0.11 Per Share

Equities analysts forecast that Elevate Credit (NYSE:ELVT) will post $0.11 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Elevate Credit’s earnings. Elevate Credit posted earnings of $0.06 per share during the same quarter last year, which suggests a positive year over year growth rate of 83.3%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, April 30th.

On average, analysts expect that Elevate Credit will report full year earnings of $0.73 per share for the current fiscal year, with EPS estimates ranging from $0.68 to $0.76. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.06 per share, with EPS estimates ranging from $0.95 to $1.23. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Elevate Credit.

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Elevate Credit (NYSE:ELVT) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.14). The firm had revenue of $193.44 million for the quarter, compared to analyst estimates of $194.10 million. Elevate Credit had a negative net margin of 1.03% and a positive return on equity of 6.84%. Elevate Credit’s quarterly revenue was up 14.5% on a year-over-year basis.

Several equities research analysts have weighed in on ELVT shares. Zacks Investment Research raised Elevate Credit from a “sell” rating to a “hold” rating in a research report on Friday, March 16th. BTIG Research lowered Elevate Credit from a “buy” rating to a “neutral” rating in a research report on Friday, February 9th. Maxim Group dropped their target price on Elevate Credit from $10.00 to $8.50 and set a “buy” rating on the stock in a research report on Monday, February 12th. Finally, UBS started coverage on Elevate Credit in a research report on Tuesday, March 27th. They issued a “buy” rating and a $10.50 target price on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $10.18.

In other news, COO Jason Harvison sold 8,476 shares of the firm’s stock in a transaction on Monday, April 9th. The stock was sold at an average price of $7.50, for a total transaction of $63,570.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of Elevate Credit during the fourth quarter valued at $102,000. Jane Street Group LLC bought a new position in Elevate Credit during the fourth quarter valued at about $113,000. Wells Fargo & Company MN boosted its stake in Elevate Credit by 1,839.5% during the fourth quarter. Wells Fargo & Company MN now owns 19,473 shares of the company’s stock valued at $147,000 after buying an additional 18,469 shares in the last quarter. California State Teachers Retirement System bought a new position in Elevate Credit during the second quarter valued at about $202,000. Finally, Essex Investment Management Co. LLC bought a new position in Elevate Credit during the fourth quarter valued at about $260,000. 42.25% of the stock is currently owned by institutional investors.

Shares of NYSE ELVT opened at $7.50 on Thursday. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48. The firm has a market capitalization of $312.27 and a price-to-earnings ratio of 46.63.

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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 and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.

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

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