Enova International (NYSE:ENVA) Announces Earnings Results

Enova International (NYSE:ENVA) announced its quarterly earnings results on Tuesday. The credit services provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14, Briefing.com reports. The firm had revenue of $689.92 million for the quarter, compared to analysts’ expectations of $666.33 million. Enova International had a return on equity of 16.53% and a net margin of 7.52%. The business’s revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 earnings per share.

Enova International Stock Performance

Shares of Enova International stock traded down $1.92 during trading hours on Wednesday, reaching $87.95. The company had a trading volume of 109,111 shares, compared to its average volume of 230,866. Enova International has a one year low of $35.30 and a one year high of $96.00. The business has a fifty day simple moving average of $82.82 and a 200 day simple moving average of $71.26. The company has a debt-to-equity ratio of 2.78, a current ratio of 12.07 and a quick ratio of 12.07. The firm has a market cap of $2.48 billion, a PE ratio of 16.82 and a beta of 1.43.

Enova International announced that its Board of Directors has approved a share buyback plan on Monday, August 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the credit services provider to repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Enova International

In other Enova International news, CFO Steven E. Cunningham sold 23,867 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $81.54, for a total transaction of $1,946,115.18. Following the sale, the chief financial officer now owns 133,471 shares in the company, valued at $10,883,225.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Sean Rahilly sold 10,158 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $81.36, for a total transaction of $826,454.88. Following the transaction, the general counsel now owns 101,949 shares in the company, valued at $8,294,570.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven E. Cunningham sold 23,867 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $81.54, for a total value of $1,946,115.18. Following the transaction, the chief financial officer now owns 133,471 shares in the company, valued at approximately $10,883,225.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,725 shares of company stock valued at $4,690,053. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ENVA. Janney Montgomery Scott lowered Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. JMP Securities increased their price objective on Enova International from $103.00 to $109.00 and gave the stock a “market outperform” rating in a report on Wednesday. BTIG Research increased their price target on Enova International from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen increased their price target on Enova International from $70.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, StockNews.com raised Enova International from a “hold” rating to a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

About Enova International

Enova International, Inc, a technology and analytics company, provides online financial services in the United States, Brazil, and internationally. The company provides installment loans; line of credit accounts; CSO programs, including arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents; and bank programs, such as marketing services and loan servicing for near-prime unsecured consumer installment loan.