Enova International (NYSE:ENVA) Shares Gap Up After Earnings Beat

Enova International, Inc. (NYSE:ENVA) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $89.87, but opened at $95.86. Enova International shares last traded at $89.89, with a volume of 65,196 shares changing hands.

The credit services provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.14. Enova International had a net margin of 7.52% and a return on equity of 16.53%. The company had revenue of $689.92 million for the quarter, compared to analyst estimates of $666.33 million. During the same period in the previous year, the business earned $1.33 EPS. Enova International’s revenue for the quarter was up 25.1% compared to the same quarter last year.

Enova International declared that its Board of Directors has authorized a stock buyback plan on Monday, August 12th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the credit services provider to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on ENVA shares. JMP Securities boosted their price target on Enova International from $103.00 to $109.00 and gave the company a “market outperform” rating in a research note on Wednesday. TD Cowen upped their target price on Enova International from $70.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Janney Montgomery Scott lowered Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. BTIG Research boosted their price target on Enova International from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised Enova International from a “hold” rating to a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Insider Activity

In other Enova International news, CEO David Fisher sold 10,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $83.46, for a total transaction of $834,600.00. Following the completion of the sale, the chief executive officer now owns 423,239 shares in the company, valued at approximately $35,323,526.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO David Fisher sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $83.46, for a total transaction of $834,600.00. Following the transaction, the chief executive officer now directly owns 423,239 shares of the company’s stock, valued at $35,323,526.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Linda Johnson Rice sold 2,700 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $88.29, for a total transaction of $238,383.00. Following the completion of the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $660,938.94. This trade 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.

Institutional Trading of Enova International

A number of institutional investors have recently modified their holdings of ENVA. BNP Paribas Financial Markets boosted its position in shares of Enova International by 172.5% in the first quarter. BNP Paribas Financial Markets now owns 51,781 shares of the credit services provider’s stock valued at $3,253,000 after acquiring an additional 32,779 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Enova International during the 1st quarter valued at $223,000. Foundry Partners LLC lifted its holdings in shares of Enova International by 11.3% during the 1st quarter. Foundry Partners LLC now owns 153,427 shares of the credit services provider’s stock worth $9,640,000 after acquiring an additional 15,519 shares during the last quarter. J.Safra Asset Management Corp increased its position in shares of Enova International by 83.8% during the 1st quarter. J.Safra Asset Management Corp now owns 930 shares of the credit services provider’s stock valued at $58,000 after purchasing an additional 424 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Enova International by 21.1% during the first quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock worth $228,000 after acquiring an additional 636 shares in the last quarter. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

Enova International Stock Performance

The company has a fifty day moving average price of $82.82 and a 200 day moving average price of $71.26. The company has a quick ratio of 12.07, a current ratio of 12.07 and a debt-to-equity ratio of 2.78. The stock has a market cap of $2.51 billion, a PE ratio of 16.82 and a beta of 1.43.

Enova International Company Profile

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.