Enova International (NYSE:ENVA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The firm presently has a $19.00 price target on the credit services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.80% from the company’s previous close.
According to Zacks, “Enova International, Inc. is a provider of online financial services. It offers loans to customers in the United States and in the United Kingdom, Australia and Canada. The Company’s customers include consumers who have bank accounts but use alternative financial credit services because of their limited access to more traditional consumer credit from banks, thrifts, credit card companies and other lenders. Enova International, Inc is headquartered in Chicago. “
Several other analysts have also issued reports on the company. ValuEngine lowered Enova International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 21st. Maxim Group reissued a “buy” rating and set a $18.00 price objective on shares of Enova International in a research note on Monday, October 9th. Stephens reissued a “buy” rating and set a $22.00 price objective on shares of Enova International in a research note on Thursday, January 4th. TheStreet raised Enova International from a “d+” rating to a “c” rating in a research note on Monday, October 30th. Finally, BidaskClub raised Enova International from a “hold” rating to a “buy” rating in a research note on Saturday, October 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.20.
Shares of Enova International (ENVA) traded down $0.10 on Friday, reaching $16.55. The company’s stock had a trading volume of 198,500 shares, compared to its average volume of 273,667. The stock has a market capitalization of $550.50, a price-to-earnings ratio of 18.19 and a beta of 3.30. The company has a debt-to-equity ratio of 2.79, a quick ratio of 8.14 and a current ratio of 8.14. Enova International has a 1-year low of $11.15 and a 1-year high of $17.50.
Enova International (NYSE:ENVA) last issued its earnings results on Thursday, October 26th. The credit services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The business had revenue of $217.88 million during the quarter, compared to analyst estimates of $210.27 million. Enova International had a negative return on equity of 4.92% and a negative net margin of 1.55%. Enova International’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. equities research analysts anticipate that Enova International will post 1.11 EPS for the current year.
Enova International announced that its board has authorized a share repurchase plan on Friday, September 15th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the credit services provider to reacquire up to 63% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
In other Enova International news, Director Mark Mcgowan purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average price of $13.97 per share, with a total value of $419,100.00. Following the completion of the purchase, the director now directly owns 22,689 shares of the company’s stock, valued at approximately $316,965.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ENVA. TIAA CREF Investment Management LLC lifted its stake in Enova International by 108.3% in the second quarter. TIAA CREF Investment Management LLC now owns 389,302 shares of the credit services provider’s stock worth $5,781,000 after acquiring an additional 202,404 shares during the period. Bank of New York Mellon Corp lifted its stake in Enova International by 20.6% in the third quarter. Bank of New York Mellon Corp now owns 494,130 shares of the credit services provider’s stock worth $6,646,000 after acquiring an additional 84,514 shares during the period. Ameriprise Financial Inc. lifted its stake in Enova International by 23.9% in the second quarter. Ameriprise Financial Inc. now owns 433,302 shares of the credit services provider’s stock worth $6,434,000 after acquiring an additional 83,475 shares during the period. Dupont Capital Management Corp purchased a new stake in Enova International in the third quarter worth $1,090,000. Finally, State Street Corp lifted its stake in Enova International by 11.1% in the second quarter. State Street Corp now owns 640,940 shares of the credit services provider’s stock worth $9,516,000 after acquiring an additional 63,865 shares during the period. 97.24% of the stock is owned by institutional investors.
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Enova International Company Profile
Enova International, Inc is a technology and analytics company. The Company provides online financial services. As of December 31, 2016, the Company offered or arranged loans to consumers in 33 states in the United States and in the United Kingdom and Brazil. As of December 31, 2016, it also offered financing to small businesses in all 50 states and Washington DC in the United States.
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