Enova International (ENVA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Enova International (NYSE:ENVA) from a buy rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Enova International, Inc. is a provider of online financial services. It offers loans to customers in the United States and in the United Kingdom, Australia and Canada. The Company’s customers include consumers who have bank accounts but use alternative financial credit services because of their limited access to more traditional consumer credit from banks, thrifts, credit card companies and other lenders. Enova International, Inc is headquartered in Chicago. “

A number of other brokerages also recently weighed in on ENVA. BidaskClub raised shares of Enova International from a hold rating to a buy rating in a report on Saturday, October 21st. ValuEngine downgraded shares of Enova International from a strong-buy rating to a buy rating in a report on Saturday, October 21st. TheStreet raised shares of Enova International from a d+ rating to a c rating in a report on Monday, October 30th. Maxim Group reissued a buy rating and issued a $18.00 price target on shares of Enova International in a report on Monday, October 30th. Finally, Jefferies Group reissued a buy rating and issued a $17.00 price target on shares of Enova International in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $16.75.

Shares of Enova International (ENVA) opened at $15.35 on Wednesday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 8.14 and a current ratio of 8.14. The stock has a market cap of $523.72, a price-to-earnings ratio of 16.87 and a beta of 3.30. Enova International has a 1-year low of $11.15 and a 1-year high of $16.80.

Enova International (NYSE:ENVA) last posted its quarterly earnings data on Thursday, October 26th. The credit services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The business had revenue of $217.88 million during the quarter, compared to the consensus estimate of $210.27 million. Enova International had a net margin of 3.87% and a return on equity of 14.85%. Enova International’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. analysts anticipate that Enova International will post 1.11 earnings per share for the current year.

Enova International announced that its Board of Directors has initiated a share repurchase program on Friday, September 15th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the credit services provider to buy up to 63% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

In related news, Director Mark Mcgowan acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of $13.97 per share, with a total value of $419,100.00. Following the acquisition, the director now directly owns 22,689 shares in the company, valued at $316,965.33. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.50% of the company’s stock.

Large investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in Enova International during the 2nd quarter worth about $175,000. Hartford Investment Management Co. bought a new stake in Enova International during the 3rd quarter worth about $178,000. Arizona State Retirement System grew its holdings in Enova International by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,264 shares of the credit services provider’s stock worth $182,000 after acquiring an additional 100 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Enova International in the 3rd quarter valued at about $228,000. Finally, Blair William & Co. IL boosted its stake in shares of Enova International by 64.9% in the 2nd quarter. Blair William & Co. IL now owns 18,357 shares of the credit services provider’s stock valued at $273,000 after purchasing an additional 7,224 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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About Enova International

Enova International, Inc is a technology and analytics company. The Company provides online financial services. As of December 31, 2016, the Company offered or arranged loans to consumers in 33 states in the United States and in the United Kingdom and Brazil. As of December 31, 2016, it also offered financing to small businesses in all 50 states and Washington DC in the United States.

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