FY2017 Earnings Forecast for Elevate Credit Inc Issued By Jefferies Group (ELVT)
Elevate Credit Inc (NYSE:ELVT) – Equities research analysts at Jefferies Group dropped their FY2017 earnings per share (EPS) estimates for Elevate Credit in a research note issued on Wednesday. Jefferies Group analyst J. Hecht now anticipates that the company will post earnings of $0.32 per share for the year, down from their prior estimate of $0.33. Jefferies Group also issued estimates for Elevate Credit’s Q4 2017 earnings at $0.17 EPS, Q2 2018 earnings at $0.25 EPS and Q3 2018 earnings at $0.13 EPS.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. JMP Securities initiated coverage on shares of Elevate Credit in a research note on Tuesday, December 12th. They set an “outperform” rating and a $10.00 target price for the company. Credit Suisse Group decreased their target price on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating for the company in a research note on Thursday, November 16th. Maxim Group reissued a “buy” rating and set a $10.00 target price on shares of Elevate Credit in a research note on Tuesday, October 31st. Finally, BidaskClub raised shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Elevate Credit has an average rating of “Buy” and a consensus price target of $10.31.
Elevate Credit (NYSE:ELVT) last posted its quarterly earnings data on Monday, October 30th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $172.80 million during the quarter, compared to analyst estimates of $175.00 million. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted ($1.25) EPS.
Several institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in shares of Elevate Credit by 912.5% during the 3rd quarter. GSA Capital Partners LLP now owns 121,500 shares of the company’s stock valued at $742,000 after purchasing an additional 109,500 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Elevate Credit by 203.2% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 38,200 shares of the company’s stock valued at $233,000 after purchasing an additional 25,600 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of Elevate Credit by 286.2% during the 3rd quarter. Citadel Advisors LLC now owns 79,688 shares of the company’s stock valued at $487,000 after purchasing an additional 59,055 shares in the last quarter. Phoenix Investment Adviser LLC bought a new position in shares of Elevate Credit during the 3rd quarter valued at $147,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Elevate Credit during the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 52.07% of the company’s stock.
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Elevate Credit Company Profile
Elevate Credit, Inc provides online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700. The Company uses advanced technology risk analytics to provide financial options to its customers, who are not well-served by either banks or legacy non-prime lenders.
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