$195.20 Million in Sales Expected for Elevate Credit Inc (ELVT) This Quarter

Wall Street brokerages expect Elevate Credit Inc (NYSE:ELVT) to post $195.20 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Elevate Credit’s earnings. The highest sales estimate is $197.03 million and the lowest is $193.10 million. The firm is expected to report its next earnings results after the market closes on Thursday, February 8th.

On average, analysts expect that Elevate Credit will report full year sales of $195.20 million for the current financial year, with estimates ranging from $672.80 million to $676.72 million. For the next financial year, analysts anticipate that the business will post sales of $806.64 million per share, with estimates ranging from $794.30 million to $819.15 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Elevate Credit.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings data on Monday, October 30th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Elevate Credit had a return on equity of 1.40% and a net margin of 0.13%. The business had revenue of $172.80 million for the quarter, compared to analyst estimates of $175.00 million. During the same quarter in the prior year, the firm posted ($1.25) EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year.

ELVT has been the subject of several research analyst reports. Zacks Investment Research downgraded Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. JMP Securities initiated coverage on 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 reduced their target price on 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 reaffirmed 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 Elevate Credit from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.31.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BBR Partners LLC acquired a new position in Elevate Credit in the 2nd quarter valued at $317,000. Northern Trust Corp acquired a new position in Elevate Credit in the 2nd quarter valued at $1,185,000. Martingale Asset Management L P acquired a new position in Elevate Credit in the 2nd quarter valued at $377,000. Citadel Advisors LLC raised its stake in Elevate Credit by 286.2% in 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 during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Elevate Credit in the 2nd quarter valued at $271,000. 52.07% of the stock is owned by hedge funds and other institutional investors.

Shares of Elevate Credit (NYSE ELVT) opened at $7.45 on Friday. Elevate Credit has a 52-week low of $5.90 and a 52-week high of $9.48.

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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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