$201.25 Million in Sales Expected for Elevate Credit Inc (ELVT) This Quarter
Equities research analysts predict that Elevate Credit Inc (NYSE:ELVT) will post $201.25 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Elevate Credit’s earnings, with the lowest sales estimate coming in at $196.00 million and the highest estimate coming in at $206.49 million. Elevate Credit reported sales of $193.54 million in the same quarter last year, which indicates a positive year over year growth rate of 4%. The company is scheduled to issue its next quarterly earnings results on Monday, April 29th.
On average, analysts expect that Elevate Credit will report full-year sales of $828.07 million for the current year, with estimates ranging from $820.00 million to $836.13 million. For the next financial year, analysts forecast that the business will report sales of $918.54 million, with estimates ranging from $899.68 million to $937.40 million. Zacks’ sales averages are an average based on a survey of research 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 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.09. Elevate Credit had a return on equity of 15.53% and a net margin of 1.59%. The business had revenue of $207.29 million for the quarter, compared to analysts’ expectations of $212.42 million.
In other Elevate Credit news, COO Jason Harvison sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $4.36, for a total value of $174,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 32.00% of the company’s stock.
Several large investors have recently bought and sold shares of the company. First Trust Advisors LP purchased a new position in shares of Elevate Credit during the third quarter valued at about $222,000. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 124,182 shares during the period. Wells Fargo & Company MN grew its holdings 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 acquiring an additional 25,337 shares during the period. Vanguard Group Inc grew its holdings in shares of Elevate Credit by 12.4% during the 3rd quarter. Vanguard Group Inc now owns 990,375 shares of the company’s stock worth $7,983,000 after acquiring an additional 109,257 shares during the period. Finally, Mackenzie Financial Corp bought a new position in shares of Elevate Credit in the 3rd quarter worth approximately $1,841,000. 48.18% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ELVT traded down $0.01 during trading on Tuesday, reaching $4.52. 140,680 shares of the company traded hands, compared to its average volume of 140,584. The firm has a market cap of $196.42 million, a PE ratio of 11.59 and a beta of 1.77. Elevate Credit has a 52-week low of $3.71 and a 52-week high of $11.27.
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, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.
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