Enova International (NYSE:ENVA) Shares Gap Up Following Better-Than-Expected Earnings

Enova International, Inc. (NYSE:ENVA)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. 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.

The credit services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The firm had revenue of $689.92 million during 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 company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ENVA shares. StockNews.com raised shares of Enova International from a “hold” rating to a “buy” rating in a research note on Monday. BTIG Research boosted their target price 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 $85.00 to $96.00 and gave the stock a “hold” rating in a report on Wednesday. JMP Securities raised their price target on Enova International from $103.00 to $109.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Finally, Janney Montgomery Scott downgraded Enova International from a “buy” rating to a “neutral” rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Enova International currently has an average rating of “Moderate Buy” and a consensus target price of $88.33.

Insiders Place Their Bets

In related news, Director Linda Johnson Rice sold 2,700 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $88.29, for a total value of $238,383.00. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $660,938.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David Fisher sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 423,239 shares in the company, valued at approximately $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 accessible through this link. Also, Director Linda Johnson Rice sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $88.29, for a total transaction of $238,383.00. Following the completion of the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $660,938.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,700 shares of company stock worth $1,917,483 in the last ninety days. 7.80% of the stock is owned by company insiders.

Institutional Trading of Enova International

Several hedge funds and other institutional investors have recently bought and sold shares of ENVA. GAMMA Investing LLC lifted its stake in shares of Enova International by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 185 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Enova International during the third quarter valued at about $76,000. J.Safra Asset Management Corp boosted its holdings in shares of Enova International by 83.8% in the 1st quarter. J.Safra Asset Management Corp now owns 930 shares of the credit services provider’s stock valued at $58,000 after buying an additional 424 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Enova International in the 1st quarter worth approximately $223,000. Finally, Lazard Asset Management LLC grew its position in shares of Enova International by 21.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock worth $228,000 after buying an additional 636 shares during the last quarter. Institutional investors own 89.43% of the company’s stock.

Enova International Stock Performance

The firm’s 50 day moving average is $82.98 and its 200 day moving average is $71.38. The company has a debt-to-equity ratio of 2.78, a quick ratio of 12.07 and a current ratio of 12.07. The stock has a market cap of $2.49 billion, a P/E ratio of 15.89 and a beta of 1.43.

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.