Equities analysts forecast that Elevate Credit (NYSE:ELVT) will announce $188.98 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Elevate Credit’s earnings. The highest sales estimate is $192.00 million and the lowest is $185.95 million. Elevate Credit posted sales of $156.37 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.9%. The business is scheduled to announce its next quarterly earnings report after the market closes on Monday, April 30th.
According to Zacks, analysts expect that Elevate Credit will report full-year sales of $801.48 million for the current fiscal year, with estimates ranging from $799.86 million to $803.10 million. For the next financial year, analysts anticipate that the company will post sales of $924.69 million per share, with estimates ranging from $920.57 million to $928.80 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Elevate Credit.
Elevate Credit (NYSE:ELVT) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.14). The firm had revenue of $193.44 million for the quarter, compared to the consensus estimate of $194.10 million. Elevate Credit had a negative net margin of 1.03% and a positive return on equity of 6.84%. The business’s quarterly revenue was up 14.5% on a year-over-year basis.
NYSE:ELVT traded up $0.02 on Friday, reaching $7.49. 46,995 shares of the stock traded hands, compared to its average volume of 82,536. The firm has a market cap of $312.69 and a P/E ratio of 46.81. Elevate Credit has a 12 month low of $5.90 and a 12 month high of $9.48.
In other news, COO Jason Harvison sold 6,792 shares of Elevate Credit stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $7.51, for a total value of $51,007.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 18,268 shares of company stock valued at $137,078 over the last quarter. Company insiders own 32.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prescott Group Capital Management L.L.C. bought a new stake in Elevate Credit during the fourth quarter valued at approximately $1,847,000. GSA Capital Partners LLP grew its position in Elevate Credit by 912.5% during the third quarter. GSA Capital Partners LLP now owns 121,500 shares of the company’s stock valued at $742,000 after buying an additional 109,500 shares during the period. Phoenix Investment Adviser LLC grew its position in Elevate Credit by 394.6% during the fourth quarter. Phoenix Investment Adviser LLC now owns 118,700 shares of the company’s stock valued at $894,000 after buying an additional 94,700 shares during the period. Acadian Asset Management LLC bought a new stake in Elevate Credit during the fourth quarter valued at approximately $328,000. Finally, Virtu Financial LLC bought a new stake in Elevate Credit during the fourth quarter valued at approximately $267,000. Institutional investors own 42.25% of the company’s stock.
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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