Equities analysts expect Elevate Credit Inc (NYSE:ELVT) to announce $201.25 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Elevate Credit’s earnings. The lowest sales estimate is $196.00 million and the highest is $206.49 million. Elevate Credit posted sales of $193.54 million in the same quarter last year, which would indicate a positive year over year growth rate of 4%. The firm is scheduled to issue its next quarterly earnings results on Monday, April 29th.
On average, analysts expect that Elevate Credit will report full-year sales of $828.07 million for the current financial year, with estimates ranging from $820.00 million to $836.13 million. For the next financial year, analysts expect that the firm will report sales of $918.54 million, with estimates ranging from $899.68 million to $937.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Elevate Credit.
Elevate Credit (NYSE:ELVT) last announced its quarterly earnings data on Monday, February 11th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Elevate Credit had a return on equity of 15.53% and a net margin of 1.59%. The company had revenue of $207.29 million for the quarter, compared to analyst estimates of $212.42 million.
ELVT has been the topic of several analyst reports. Jefferies Financial Group lowered Elevate Credit from a “buy” rating to a “hold” rating and reduced their price target for the stock from $9.50 to $5.00 in a report on Tuesday, January 8th. Zacks Investment Research lowered Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Maxim Group reiterated a “buy” rating and set a $10.00 price target on shares of Elevate Credit in a report on Tuesday, February 12th. BTIG Research upgraded Elevate Credit from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Wednesday, February 13th. Finally, UBS Group lowered Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Friday, February 22nd. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Elevate Credit currently has a consensus rating of “Hold” and a consensus price target of $7.65.
Shares of NYSE ELVT traded up $0.12 during trading on Friday, hitting $4.24. 407,620 shares of the company were exchanged, compared to its average volume of 158,387. Elevate Credit has a 12-month low of $3.71 and a 12-month high of $11.27. The firm has a market cap of $179.08 million, a PE ratio of 10.74 and a beta of 1.77.
Institutional investors and hedge funds have recently modified their holdings of the stock. Prescott Group Capital Management L.L.C. grew its position in Elevate Credit by 72.9% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 1,801,576 shares of the company’s stock valued at $8,071,000 after acquiring an additional 759,482 shares in the last quarter. Nantahala Capital Management LLC grew its position in Elevate Credit by 256.8% in the 4th quarter. Nantahala Capital Management LLC now owns 1,582,364 shares of the company’s stock valued at $7,089,000 after acquiring an additional 1,138,873 shares in the last quarter. BlackRock Inc. grew its position in Elevate Credit by 23.2% in the 3rd quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock valued at $10,516,000 after acquiring an additional 246,120 shares in the last quarter. 683 Capital Management LLC acquired a new position in Elevate Credit in the 4th quarter valued at about $4,683,000. Finally, Vanguard Group Inc grew its position in Elevate Credit by 12.4% in the 3rd quarter. Vanguard Group Inc now owns 990,375 shares of the company’s stock valued at $7,983,000 after acquiring an additional 109,257 shares in the last quarter. Hedge funds and other institutional investors own 48.35% of the company’s stock.
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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