Elevate Credit (NYSE:ELVT) Releases Earnings Results, Beats Estimates By $0.22 EPS

Elevate Credit (NYSE:ELVT) posted its earnings results on Monday. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.22, MarketWatch Earnings reports. Elevate Credit had a return on equity of 31.90% and a net margin of 5.73%.

NYSE:ELVT traded up $0.23 during trading hours on Tuesday, reaching $3.47. The stock had a trading volume of 20,841 shares, compared to its average volume of 466,829. The stock has a 50 day simple moving average of $3.30 and a 200 day simple moving average of $3.52. Elevate Credit has a 12-month low of $1.35 and a 12-month high of $4.90. The stock has a market cap of $123.72 million, a P/E ratio of 4.34 and a beta of 2.87.

A number of research firms have recently weighed in on ELVT. Credit Suisse Group raised their target price on Elevate Credit from $4.90 to $5.60 and gave the company an “outperform” rating in a report on Tuesday, February 9th. Zacks Investment Research downgraded Elevate Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, April 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $3.62.

In related news, major shareholder Linda Stinson sold 26,895 shares of Elevate Credit stock in a transaction on Monday, April 26th. The stock was sold at an average price of $3.10, for a total transaction of $83,374.50. Following the completion of the sale, the insider now owns 2,702,275 shares of the company’s stock, valued at $8,377,052.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tyler W. K. Head sold 57,673 shares of Elevate Credit stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $3.19, for a total value of $183,976.87. Insiders sold 1,408,365 shares of company stock valued at $4,708,069 over the last three months. Company insiders own 18.00% of the company’s stock.

Elevate Credit Company Profile

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States. It offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise, an installment loan product; Elastic, a line of credit product; and Today Card, a credit card product.

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Earnings History for Elevate Credit (NYSE:ELVT)

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