“4Q18 results were above consensus and within guidance for adjusted EBITDA ($31.9M versus consensus of $30.1M and guidance of $31M-$36M), and for EPS ($0.09 versus consensus of $0.08 and guidance of $0.04-$0.13), but below consensus and guidance for revenue ($207.3M versus consensus at $212.1M and guidance of $211M-$216M). The revenue miss was because ELVT slowed down loan originations intentionally until its new credit models are ready (later in 1H19). The inline earnings resulted from stronger margins, as the average customer acquisition cost (CAC) declined.”,” the firm’s analyst wrote.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised Elevate Credit from a sell rating to a hold rating in a research note on Tuesday, January 15th. Jefferies Financial Group lowered Elevate Credit from a buy rating to a hold rating and reduced their price objective for the stock from $9.50 to $5.00 in a research note on Tuesday, January 8th. ValuEngine raised Elevate Credit from a sell rating to a hold rating in a research note on Wednesday, October 31st. Credit Suisse Group reduced their price objective on Elevate Credit from $10.50 to $8.00 and set an outperform rating for the company in a research note on Tuesday, October 30th. Finally, Stephens set a $5.00 price objective on Elevate Credit and gave the stock a hold rating in a research note on Tuesday, October 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $8.86.
Elevate Credit (NYSE:ELVT) last released its quarterly earnings data on Monday, February 11th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $207.29 million during the quarter, compared to analyst estimates of $212.42 million. Elevate Credit had a positive return on equity of 12.69% and a negative net margin of 0.49%. On average, equities research analysts predict that Elevate Credit will post 0.41 earnings per share for the current year.
In other Elevate Credit news, Director John C. Dean bought 33,000 shares of Elevate Credit stock in a transaction dated Wednesday, November 28th. The stock was bought at an average price of $4.52 per share, for a total transaction of $149,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 32.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. raised its holdings in shares of Elevate Credit by 72.9% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 1,801,576 shares of the company’s stock worth $8,071,000 after acquiring an additional 759,482 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Elevate Credit by 23.2% during the third quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock worth $10,516,000 after acquiring an additional 246,120 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Elevate Credit by 12.4% during the third 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 in the last quarter. Vanguard Group Inc raised its holdings in shares of Elevate Credit by 12.4% during the third 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 in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Elevate Credit by 323.3% during the third quarter. Renaissance Technologies LLC now owns 693,438 shares of the company’s stock worth $5,589,000 after acquiring an additional 529,638 shares in the last quarter. Institutional investors own 42.70% of the company’s stock.
About Elevate Credit
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 and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.
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