Elevate Credit (ELVT) Announces Quarterly Earnings Results, Misses Estimates By $0.23 EPS

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Elevate Credit (NYSE:ELVT) released its earnings results on Monday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.23), MarketWatch Earnings reports. The firm had revenue of $201.48 million during the quarter, compared to analyst estimates of $201.71 million. Elevate Credit had a negative net margin of 0.49% and a positive return on equity of 12.82%. Elevate Credit’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. Elevate Credit updated its FY18 guidance to $0.23-0.32 EPS.

Shares of NYSE ELVT opened at $3.90 on Wednesday. Elevate Credit has a 1-year low of $3.73 and a 1-year high of $11.27. The stock has a market cap of $281.61 million, a PE ratio of 24.38 and a beta of 0.98.

ELVT has been the topic of several recent analyst reports. ValuEngine upgraded shares of Elevate Credit from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Maxim Group boosted their target price on shares of Elevate Credit from $10.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 10th. JMP Securities boosted their target price on shares of Elevate Credit from $10.00 to $12.50 and gave the company a “market outperform” rating in a report on Thursday, July 12th. Zacks Investment Research lowered shares of Elevate Credit from a “strong-buy” rating to a “hold” rating in a report on Friday, July 20th. Finally, Stephens set a $9.00 target price on shares of Elevate Credit and gave the company a “hold” rating in a report on Tuesday, July 31st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Elevate Credit currently has a consensus rating of “Hold” and a consensus target price of $10.00.

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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Earnings History for Elevate Credit (NYSE:ELVT)

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