Jefferies Group Weighs in on Elevate Credit Inc’s FY2017 Earnings (ELVT)

Elevate Credit Inc (NYSE:ELVT) – Jefferies Group cut their FY2017 EPS estimates for Elevate Credit in a research note issued to investors on Wednesday. Jefferies Group analyst J. Hecht now expects that the company will post earnings of $0.32 per share for the year, down from their previous forecast 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.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Elevate Credit from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. JMP Securities began coverage on shares of Elevate Credit in a report on Tuesday, December 12th. They issued an “outperform” rating and a $10.00 price objective for the company. Maxim Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Elevate Credit in a report on Tuesday, October 31st. Credit Suisse Group cut their price objective on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating for the company in a report on Thursday, November 16th. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $10.50.

Elevate Credit (ELVT) opened at $7.78 on Thursday. Elevate Credit has a fifty-two week low of $5.90 and a fifty-two week high of $9.48.

Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, October 30th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $172.80 million during the quarter, compared to the consensus estimate of $175.00 million. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.25) earnings per share.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers purchased a new stake in Elevate Credit during the 2nd quarter valued at about $117,000. New York State Common Retirement Fund acquired a new position in Elevate Credit in the 2nd quarter valued at about $122,000. BlueCrest Capital Management Ltd acquired a new position in Elevate Credit in the 2nd quarter valued at about $146,000. Dynamic Technology Lab Private Ltd acquired a new position in Elevate Credit in the 3rd quarter valued at about $126,000. Finally, Citadel Advisors LLC acquired a new position in Elevate Credit in the 2nd quarter valued at about $163,000. 52.07% of the stock is owned by institutional investors.

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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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