Elevate Credit Inc (ELVT) Expected to Announce Earnings of $0.21 Per Share

Analysts expect Elevate Credit Inc (NYSE:ELVT) to report earnings per share (EPS) of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Elevate Credit’s earnings, with the lowest EPS estimate coming in at $0.20 and the highest estimate coming in at $0.22. Elevate Credit posted earnings of $0.22 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 4.5%. The company is expected to issue its next quarterly earnings results on Monday, April 29th.

According to Zacks, analysts expect that Elevate Credit will report full year earnings of $0.58 per share for the current year, with EPS estimates ranging from $0.56 to $0.59. For the next fiscal year, analysts anticipate that the company will report earnings of $0.79 per share, with EPS estimates ranging from $0.66 to $0.87. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Elevate Credit.

Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Monday, February 11th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Elevate Credit had a net margin of 1.59% and a return on equity of 15.53%. The company had revenue of $207.29 million for the quarter, compared to analysts’ expectations of $212.42 million.

ELVT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Elevate Credit from a “sell” rating to a “hold” rating in a report on Friday, March 1st. BTIG Research upgraded shares of 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. Maxim Group restated a “buy” rating and issued a $10.00 price target on shares of Elevate Credit in a report on Tuesday, February 12th. UBS Group cut shares of 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. Finally, Jefferies Financial Group lowered shares of Elevate Credit from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $9.50 to $5.00 in a research note on Tuesday, January 8th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.65.

ELVT traded up $0.12 during trading hours on Friday, hitting $4.24. The company’s stock had a trading volume of 407,620 shares, 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 stock has a market capitalization of $179.08 million, a PE ratio of 10.74 and a beta of 1.77.

Hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP acquired a new position in Elevate Credit in the 3rd quarter worth approximately $222,000. JPMorgan Chase & Co. increased its position in shares of Elevate Credit by 3,030.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 128,280 shares of the company’s stock worth $1,033,000 after purchasing an additional 124,182 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Elevate Credit by 33.3% during the 3rd quarter. Wells Fargo & Company MN now owns 101,362 shares of the company’s stock worth $817,000 after purchasing an additional 25,337 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Elevate Credit by 43.7% during the 3rd quarter. Acadian Asset Management LLC now owns 138,849 shares of the company’s stock worth $1,120,000 after purchasing an additional 42,193 shares during the last quarter. 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. 48.35% of the stock is owned by institutional investors and hedge funds.

Elevate Credit Company Profile

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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Earnings History and Estimates for Elevate Credit (NYSE:ELVT)

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