Share Buyback Plan Approved by Enova International (NYSE:ENVA) Board

Enova International (NYSE:ENVA) announced that its board has authorized a share buyback plan on Tuesday, November 10th, RTT News reports. The company plans to repurchase $500 million in shares. This repurchase authorization authorizes the credit services provider to purchase up to 12.1% of its shares through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citizens Jmp increased their target price on shares of Enova International from $215.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Friday, October 23rd. Zacks Research downgraded shares of Enova International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 16th. Stephens boosted their price objective on Enova International from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Maxim Group cut their price target on Enova International from $285.00 to $220.00 and set a “buy” rating for the company in a report on Monday, October 26th. Finally, Citigroup reiterated a “market outperform” rating on shares of Enova International in a research note on Friday, October 23rd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Enova International presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.00.

Enova International Stock Performance

Shares of ENVA stock opened at $167.22 on Friday. The company has a quick ratio of 18.91, a current ratio of 18.92 and a debt-to-equity ratio of 3.43. The firm has a market capitalization of $4.09 billion, a PE ratio of 11.40 and a beta of 1.36. The company has a 50 day moving average price of $181.64 and a 200-day moving average price of $184.41. Enova International has a 52 week low of $119.02 and a 52 week high of $267.45.

Enova International (NYSE:ENVA) last issued its quarterly earnings data on Thursday, October 22nd. The credit services provider reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.42 by $0.06. Enova International had a return on equity of 27.25% and a net margin of 10.47%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business posted $3.36 earnings per share. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. As a group, equities research analysts expect that Enova International will post 16.32 earnings per share for the current year.

Insider Activity at Enova International

In related news, General Counsel Sean Rahilly sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $183.26, for a total transaction of $1,832,600.00. Following the transaction, the general counsel directly owned 104,249 shares in the company, valued at approximately $19,104,671.74. The trade was a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven E. Cunningham sold 15,305 shares of Enova International stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $172.00, for a total transaction of $2,632,460.00. Following the completion of the sale, the chief executive officer owned 118,789 shares of the company’s stock, valued at $20,431,708. This trade represents a 11.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,758 shares of company stock worth $21,490,436 in the last quarter. 8.40% of the stock is currently owned by company insiders.

Enova International Company Profile

Enova International is a financial technology company that provides online financial services to consumers and small businesses, with a focus on customers who may have limited access to traditional credit. Its products include installment loans and lines of credit. The company serves consumers through brands including CashNetUSA and NetCredit, and provides financing to small businesses through OnDeck and Headway Capital. Enova also uses data analytics and technology to support its lending and customer-service operations.