Enova International (NYSE:ENVA) Board Approves Stock Repurchase Program

Enova International (NYSE:ENVA) announced that its Board of Directors has approved a share buyback plan on Wednesday, November 12th, RTT News reports. The company plans to buyback $400.00 million in outstanding shares. This buyback authorization permits the credit services provider to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ENVA has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Enova International in a research report on Wednesday, October 8th. Zacks Research downgraded Enova International from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. BTIG Research boosted their price target on Enova International from $129.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, JMP Securities raised their price objective on shares of Enova International from $135.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $116.80.

Enova International Stock Performance

Shares of ENVA opened at $125.71 on Friday. Enova International has a one year low of $79.41 and a one year high of $133.33. The company has a market cap of $3.12 billion, a PE ratio of 11.55 and a beta of 1.47. The stock has a 50-day moving average of $118.23 and a 200-day moving average of $109.36. The company has a debt-to-equity ratio of 3.20, a current ratio of 19.29 and a quick ratio of 18.15.

Enova International (NYSE:ENVA) last announced its quarterly earnings results on Thursday, October 23rd. The credit services provider reported $3.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.33. The business had revenue of $460.71 million for the quarter, compared to analyst estimates of $806.63 million. Enova International had a return on equity of 24.50% and a net margin of 9.64%.The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.45 earnings per share. On average, equities research analysts predict that Enova International will post 10.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Fisher sold 35,000 shares of Enova International stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $125.55, for a total value of $4,394,250.00. Following the completion of the sale, the chief executive officer owned 348,223 shares of the company’s stock, valued at approximately $43,719,397.65. This trade represents a 9.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Cunningham sold 14,874 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $120.70, for a total transaction of $1,795,291.80. Following the sale, the chief financial officer owned 127,719 shares of the company’s stock, valued at $15,415,683.30. This trade represents a 10.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 86,874 shares of company stock worth $10,708,742. 8.40% of the stock is owned by company insiders.

About Enova International

Enova International, Inc, a technology and analytics company, provides online financial services in the United States, Brazil, and internationally. The company provides installment loans; line of credit accounts; CSO programs, including arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents; and bank programs, such as marketing services and loan servicing for near-prime unsecured consumer installment loan.