Maxim Group reiterated their buy rating on shares of Enova International, Inc. (NYSE:ENVA) in a research note released on Monday morning. The brokerage currently has a $18.00 price objective on the credit services provider’s stock.
“On October 5, the Consumer Financial Protection Bureau (CFPB) published its final rule related to high-cost personal consumer loans. Unlike the previously proposed small dollar rule,” which would have impacted the underwriting of almost all high-cost personal consumer loans, the final rule was narrowed to impact the underwriting of only payday loans, auto title loans, and balloon- payment loans, that is, single-pay loans.”,” the firm’s analyst wrote.
A number of other equities analysts have also weighed in on ENVA. BidaskClub lowered shares of Enova International from a sell rating to a strong sell rating in a research report on Saturday, August 12th. Jefferies Group LLC reissued a buy rating and issued a $17.00 price objective on shares of Enova International in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Enova International presently has an average rating of Buy and a consensus price target of $15.00.
Shares of Enova International (NYSE:ENVA) opened at 14.10 on Monday. The stock has a 50 day moving average of $12.89 and a 200 day moving average of $13.89. The stock has a market cap of $474.93 million, a PE ratio of 11.35 and a beta of 3.48. Enova International has a 1-year low of $8.68 and a 1-year high of $16.80.
Enova International (NYSE:ENVA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $189.90 million during the quarter, compared to analyst estimates of $193.70 million. Enova International had a net margin of 5.42% and a return on equity of 15.97%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. Equities research analysts forecast that Enova International will post $1.27 EPS for the current year.
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Enova International announced that its board has initiated a share repurchase plan on Friday, September 15th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the credit services provider to repurchase up to 63% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENVA. Russell Investments Group Ltd. grew its stake in Enova International by 2.1% during the first quarter. Russell Investments Group Ltd. now owns 146,837 shares of the credit services provider’s stock worth $2,180,000 after buying an additional 2,999 shares during the period. Bank of New York Mellon Corp grew its stake in Enova International by 10.2% during the first quarter. Bank of New York Mellon Corp now owns 338,979 shares of the credit services provider’s stock worth $5,035,000 after buying an additional 31,282 shares during the period. Comerica Bank grew its stake in Enova International by 3.8% during the first quarter. Comerica Bank now owns 25,811 shares of the credit services provider’s stock worth $374,000 after buying an additional 935 shares during the period. Arizona State Retirement System grew its stake in Enova International by 1.7% during the first quarter. Arizona State Retirement System now owns 12,164 shares of the credit services provider’s stock worth $181,000 after buying an additional 200 shares during the period. Finally, Blair William & Co. IL purchased a new stake in Enova International during the first quarter worth approximately $165,000. Institutional investors own 95.32% of the company’s stock.
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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