$112.30 Million in Sales Expected for Consumer Portfolio Services, Inc. (CPSS) This Quarter
Equities analysts predict that Consumer Portfolio Services, Inc. (NASDAQ:CPSS) will post sales of $112.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Consumer Portfolio Services’ earnings. The highest sales estimate is $113.32 million and the lowest is $111.28 million. Consumer Portfolio Services posted sales of $108.52 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The firm is scheduled to announce its next earnings results on Monday, October 16th.
According to Zacks, analysts expect that Consumer Portfolio Services will report full year sales of $112.30 million for the current year, with estimates ranging from $440.29 million to $446.53 million. For the next year, analysts anticipate that the company will post sales of $454.58 million per share, with estimates ranging from $442.54 million to $466.61 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Consumer Portfolio Services.
Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings data on Monday, July 24th. The credit services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The company had revenue of $110.07 million for the quarter, compared to analyst estimates of $110.31 million. Consumer Portfolio Services had a return on equity of 12.76% and a net margin of 5.49%.
A number of research firms have recently issued reports on CPSS. Jefferies Group LLC reiterated a “buy” rating and set a $6.00 price target on shares of Consumer Portfolio Services in a research report on Thursday, September 7th. Zacks Investment Research upgraded Consumer Portfolio Services from a “sell” rating to a “hold” rating in a report on Friday, August 18th.
In other news, major shareholder Second Curve Capital Llc sold 15,000 shares of Consumer Portfolio Services stock in a transaction on Friday, August 4th. The stock was sold at an average price of $3.98, for a total transaction of $59,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 35,000 shares of company stock valued at $138,750. Company insiders own 37.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG increased its holdings in Consumer Portfolio Services by 1,213.0% during the 1st quarter. UBS Group AG now owns 24,882 shares of the credit services provider’s stock valued at $117,000 after acquiring an additional 22,987 shares in the last quarter. Hancock Holding Co. raised its position in Consumer Portfolio Services by 17.6% during the second quarter. Hancock Holding Co. now owns 44,185 shares of the credit services provider’s stock worth $201,000 after acquiring an additional 6,615 shares during the last quarter. Oxford Asset Management acquired a new position in Consumer Portfolio Services during the first quarter worth about $230,000. Spark Investment Management LLC raised its position in Consumer Portfolio Services by 53.2% during the second quarter. Spark Investment Management LLC now owns 61,600 shares of the credit services provider’s stock worth $280,000 after acquiring an additional 21,400 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Consumer Portfolio Services by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 70,127 shares of the credit services provider’s stock worth $330,000 after acquiring an additional 397 shares during the last quarter. 46.74% of the stock is currently owned by hedge funds and other institutional investors.
Consumer Portfolio Services (CPSS) opened at 4.60 on Tuesday. The stock has a market cap of $104.57 million, a price-to-earnings ratio of 5.46 and a beta of 1.63. The firm has a 50-day moving average price of $4.20 and a 200-day moving average price of $4.41. Consumer Portfolio Services has a one year low of $3.66 and a one year high of $6.05.
Consumer Portfolio Services declared that its Board of Directors has authorized a share repurchase plan on Monday, July 24th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the credit services provider to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
About Consumer Portfolio Services
Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.
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