$0.24 EPS Expected for Ellie Mae Inc (ELLI) This Quarter
Equities analysts forecast that Ellie Mae Inc (NASDAQ:ELLI) will announce earnings of $0.24 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Ellie Mae’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.25. Ellie Mae posted earnings of $0.57 per share during the same quarter last year, which indicates a negative year over year growth rate of 57.9%. The business is expected to announce its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Ellie Mae will report full year earnings of $1.52 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.54. For the next year, analysts anticipate that the company will post earnings of $1.63 per share, with EPS estimates ranging from $1.07 to $1.89. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Ellie Mae.
Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.40 by $0.13. The business had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $105.62 million. Ellie Mae had a net margin of 18.08% and a return on equity of 10.74%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share.
A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley reissued an “equal weight” rating and set a $115.00 price target (up from $106.00) on shares of Ellie Mae in a research note on Thursday, July 20th. Roth Capital downgraded shares of Ellie Mae from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Barclays PLC upped their target price on shares of Ellie Mae from $92.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price (down previously from $135.00) on shares of Ellie Mae in a research note on Sunday, July 30th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Ellie Mae has a consensus rating of “Buy” and an average target price of $110.71.
In other Ellie Mae news, CEO Jonathan Corr sold 2,211 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.44, for a total transaction of $195,540.84. Following the sale, the chief executive officer now directly owns 114,902 shares of the company’s stock, valued at $10,161,932.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sigmund Anderman sold 12,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $89.24, for a total transaction of $1,070,880.00. Following the sale, the insider now directly owns 98,321 shares in the company, valued at $8,774,166.04. The disclosure for this sale can be found here. Insiders have sold 24,608 shares of company stock worth $2,135,134 over the last ninety days.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. raised its position in Ellie Mae by 13.2% during the second quarter. Advisor Group Inc. now owns 1,014 shares of the software maker’s stock worth $112,000 after acquiring an additional 118 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Ellie Mae by 8.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,230 shares of the software maker’s stock worth $135,000 after acquiring an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ellie Mae by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,339 shares of the software maker’s stock worth $147,000 after acquiring an additional 119 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ellie Mae during the third quarter worth $139,000. Finally, Bank of Montreal Can raised its position in Ellie Mae by 1.4% during the second quarter. Bank of Montreal Can now owns 1,817 shares of the software maker’s stock worth $200,000 after acquiring an additional 25 shares in the last quarter.
Ellie Mae announced that its board has initiated a stock buyback program on Tuesday, September 5th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the software maker to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
About Ellie Mae
Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management.
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