Elevate Credit (ELVT) Issues FY 2019 Earnings Guidance

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Elevate Credit (NYSE:ELVT) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided EPS guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.69. The company issued revenue guidance of $811-834 million, compared to the consensus revenue estimate of $882.35 million.

Shares of ELVT traded up $0.01 on Monday, hitting $4.38. The company’s stock had a trading volume of 249,767 shares, compared to its average volume of 128,770. The company has a market capitalization of $188.77 million, a P/E ratio of 27.38 and a beta of 1.81. Elevate Credit has a fifty-two week low of $3.71 and a fifty-two week high of $11.27.

Several research analysts have recently commented on ELVT shares. Zacks Investment Research raised Elevate Credit from a sell rating to a hold rating in a report on Tuesday, January 15th. Jefferies Financial Group downgraded Elevate Credit from a buy rating to a hold rating and reduced their target price for the stock from $9.50 to $5.00 in a report on Tuesday, January 8th. ValuEngine raised Elevate Credit from a sell rating to a hold rating in a report on Wednesday, October 31st. Stephens set a $5.00 target price on Elevate Credit and gave the stock a hold rating in a report on Tuesday, October 30th. Finally, William Blair reissued a market perform rating on shares of Elevate Credit in a report on Tuesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $9.29.

In related news, Director John C. Dean acquired 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average price of $4.52 per share, for a total transaction of $149,160.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 32.00% of the company’s stock.

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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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