Jefferies Group Weighs in on Elevate Credit Inc’s FY2017 Earnings (ELVT)

Elevate Credit Inc (NYSE:ELVT) – Jefferies Group decreased their FY2017 earnings estimates for shares of Elevate Credit in a report issued on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the company will earn $0.32 per share for the year, down from their prior estimate of $0.33. Jefferies Group also issued estimates for Elevate Credit’s Q4 2017 earnings at $0.17 EPS, Q2 2018 earnings at $0.25 EPS and Q3 2018 earnings at $0.13 EPS.

A number of other equities analysts have also recently issued reports on ELVT. Zacks Investment Research cut Elevate Credit from a “hold” rating to a “sell” rating in a report on Monday, September 18th. BidaskClub upgraded Elevate Credit from a “strong sell” rating to a “sell” rating in a report on Saturday, October 7th. Maxim Group restated a “buy” rating and set a $10.00 target price on shares of Elevate Credit in a report on Tuesday, October 31st. Credit Suisse Group reduced their target price on Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a report on Thursday, November 16th. Finally, JMP Securities initiated coverage on Elevate Credit in a report on Tuesday, December 12th. They set an “outperform” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $10.50.

Elevate Credit (ELVT) opened at $7.78 on Thursday. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48.

Elevate Credit (NYSE:ELVT) last issued its earnings results on Monday, October 30th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Elevate Credit had a return on equity of 1.40% and a net margin of 0.13%. The firm had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $175.00 million. During the same quarter last year, the business earned ($1.25) earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $117,000. New York State Common Retirement Fund bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $122,000. BlueCrest Capital Management Ltd bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $146,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Elevate Credit during the 3rd quarter valued at about $126,000. Finally, Citadel Advisors LLC bought a new position in shares of Elevate Credit during the 2nd quarter valued at about $163,000. Institutional investors and hedge funds own 52.07% of the company’s stock.

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Elevate Credit Company Profile

Elevate Credit, Inc provides online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700. The Company uses advanced technology risk analytics to provide financial options to its customers, who are not well-served by either banks or legacy non-prime lenders.

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