Enova International (NYSE:ENVA) Sets New 1-Year High on Earnings Beat

Enova International, Inc. (NYSE:ENVA) shares hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $89.67 and last traded at $88.97, with a volume of 163362 shares changing hands. The stock had previously closed at $86.17.

The credit services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The company had revenue of $689.92 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 EPS.

Enova International announced that its board has initiated a share buyback plan on Monday, August 12th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENVA. StockNews.com raised shares of Enova International from a “hold” rating to a “buy” rating in a research note on Monday. JMP Securities upped their price target on Enova International from $103.00 to $109.00 and gave the company a “market outperform” rating in a research report on Wednesday. TD Cowen increased their price target on shares of Enova International from $85.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday. BTIG Research increased their target price on shares of Enova International from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Janney Montgomery Scott downgraded shares of Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Enova International presently has an average rating of “Moderate Buy” and a consensus price target of $88.33.

Insider Buying and Selling

In other Enova International news, General Counsel Sean Rahilly sold 10,158 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $81.36, for a total transaction of $826,454.88. Following the completion of the sale, the general counsel now directly owns 101,949 shares in the company, valued at $8,294,570.64. 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 at the SEC website. In other news, General Counsel Sean Rahilly sold 10,158 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $81.36, for a total transaction of $826,454.88. Following the completion of the transaction, the general counsel now directly owns 101,949 shares in the company, valued at $8,294,570.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven E. Cunningham sold 23,867 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 133,471 shares in the company, valued at approximately $10,883,225.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,725 shares of company stock worth $4,690,053 in the last quarter. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Enova International by 27.6% during the second quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider’s stock worth $53,000 after buying an additional 185 shares in the last quarter. J.Safra Asset Management Corp grew its holdings 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 worth $58,000 after purchasing an additional 424 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Enova International during the third quarter valued at approximately $76,000. SG Americas Securities LLC acquired a new position in shares of Enova International in the first quarter valued at $223,000. Finally, Lazard Asset Management LLC lifted its position in Enova International by 21.1% in the first quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock worth $228,000 after purchasing an additional 636 shares during the period. Institutional investors and hedge funds own 89.43% of the company’s stock.

Enova International Price Performance

The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 15.86 and a beta of 1.43. The stock’s 50 day simple moving average is $82.98 and its two-hundred day simple moving average is $71.38. The company has a debt-to-equity ratio of 2.78, a current ratio of 12.07 and a quick ratio of 12.07.

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.