Enova International, Inc. (NYSE:ENVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Enova International, Inc. is a provider of online financial services. It offers loans to customers in the United States and in the United Kingdom, Australia and Canada. The Company’s customers include consumers who have bank accounts but use alternative financial credit services because of their limited access to more traditional consumer credit from banks, thrifts, credit card companies and other lenders. Enova International, Inc is headquartered in Chicago. “
Other equities analysts have also issued research reports about the stock. Maxim Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of Enova International in a research report on Monday. BidaskClub lowered shares of Enova International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $17.00 price objective on shares of Enova International in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $15.00.
Enova International (NYSE:ENVA) last issued its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $189.90 million for the quarter, compared to analyst estimates of $193.70 million. Enova International had a net margin of 5.42% and a return on equity of 15.97%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share.
Enova International declared that its board has approved a share buyback plan on Friday, September 15th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the credit services provider to reacquire up to 63% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Several large investors have recently added to or reduced their stakes in ENVA. Tieton Capital Management LLC bought a new position in shares of Enova International in the second quarter valued at approximately $5,056,000. TIAA CREF Investment Management LLC raised its position in shares of Enova International by 108.3% in the second quarter. TIAA CREF Investment Management LLC now owns 389,302 shares of the credit services provider’s stock valued at $5,781,000 after purchasing an additional 202,404 shares during the period. William Blair Investment Management LLC raised its position in shares of Enova International by 82.1% in the second quarter. William Blair Investment Management LLC now owns 446,499 shares of the credit services provider’s stock valued at $6,631,000 after purchasing an additional 201,291 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Enova International by 982.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 141,430 shares of the credit services provider’s stock valued at $2,100,000 after purchasing an additional 128,360 shares during the period. Finally, James Investment Research Inc. bought a new position in shares of Enova International in the second quarter valued at approximately $1,601,000. 95.32% of the stock is currently owned by institutional investors.
Enova International Company Profile
Enova International, Inc is a technology and analytics company. The Company provides online financial services. As of December 31, 2016, the Company offered or arranged loans to consumers in 33 states in the United States and in the United Kingdom and Brazil. As of December 31, 2016, it also offered financing to small businesses in all 50 states and Washington DC in the United States.
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