Elevate Credit Inc (NYSE:ELVT) – Stock analysts at Jefferies Financial Group dropped their Q1 2019 earnings per share estimates for Elevate Credit in a research report issued to clients and investors on Tuesday, February 12th. Jefferies Financial Group analyst J. Hecht now expects that the company will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.27. Jefferies Financial Group has a “Hold” rating and a $5.00 price target on the stock. Jefferies Financial Group also issued estimates for Elevate Credit’s Q2 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.21 EPS, FY2019 earnings at $0.58 EPS, Q1 2020 earnings at $0.43 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at $0.13 EPS and FY2020 earnings at $0.87 EPS.
ELVT has been the subject of several other reports. Stephens set a $5.00 target price on Elevate Credit and gave the company a “hold” rating in a report on Tuesday, October 30th. William Blair restated a “market perform” rating on shares of Elevate Credit in a report on Tuesday, October 30th. Credit Suisse Group dropped their target price on Elevate Credit from $10.50 to $8.00 and set an “outperform” rating for the company in a report on Tuesday, October 30th. ValuEngine cut Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $8.86.
Elevate Credit (NYSE:ELVT) last issued its earnings results on Monday, February 11th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $207.29 million during the quarter, compared to analysts’ expectations of $212.42 million. Elevate Credit had a positive return on equity of 12.69% and a negative net margin of 0.49%.
In other Elevate Credit news, Director John C. Dean purchased 33,000 shares of the stock in a transaction on Wednesday, November 28th. The stock was acquired at an average price of $4.52 per share, with a total value of $149,160.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 32.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its position in Elevate Credit by 18.7% during the 4th quarter. First Trust Advisors LP now owns 32,701 shares of the company’s stock valued at $147,000 after purchasing an additional 5,148 shares during the last quarter. Ingalls & Snyder LLC raised its position in Elevate Credit by 17.6% during the 4th quarter. Ingalls & Snyder LLC now owns 38,249 shares of the company’s stock valued at $171,000 after purchasing an additional 5,730 shares during the last quarter. Rhumbline Advisers raised its position in Elevate Credit by 55.1% during the 4th quarter. Rhumbline Advisers now owns 26,497 shares of the company’s stock valued at $119,000 after purchasing an additional 9,408 shares during the last quarter. Stephens Inc. AR raised its position in Elevate Credit by 72.2% during the 4th quarter. Stephens Inc. AR now owns 31,000 shares of the company’s stock valued at $139,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Elevate Credit by 33.3% during the 3rd quarter. Wells Fargo & Company MN now owns 101,362 shares of the company’s stock valued at $817,000 after purchasing an additional 25,337 shares during the last quarter. 42.70% of the stock is owned by institutional investors and hedge funds.
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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