Consumer Portfolio Services (NASDAQ:CPSS) Announces Earnings Results

Key Points

• Consumer Portfolio Services reported quarterly earnings of $0.20 per share, missing the analyst estimates of $0.26 by $0.06.
• The company's stock price increased by $0.20 to reach $8.22 following the earnings announcement, with a market capitalization of $177.22 million.
• Wall Street Zen upgraded the stock from a "hold" rating to a "buy" rating on July 18, indicating a positive outlook for the company.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) posted its quarterly earnings results on Monday. The credit services provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.06), Zacks reports. The company had revenue of $109.76 million during the quarter, compared to the consensus estimate of $109.63 million. Consumer Portfolio Services had a return on equity of 6.59% and a net margin of 4.60%.

Consumer Portfolio Services Stock Down 4.5%

Consumer Portfolio Services stock traded down $0.38 during midday trading on Friday, hitting $8.01. 11,090 shares of the company's stock were exchanged, compared to its average volume of 13,453. The company has a debt-to-equity ratio of 9.89, a quick ratio of 8.24 and a current ratio of 8.03. Consumer Portfolio Services has a 12 month low of $7.80 and a 12 month high of $12.73. The firm has a 50-day moving average of $9.24 and a two-hundred day moving average of $9.39. The company has a market cap of $177.98 million, a PE ratio of 10.01 and a beta of 0.91.

Insider Transactions at Consumer Portfolio Services

In other Consumer Portfolio Services news, Director Greg Washer sold 9,648 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $9.88, for a total transaction of $95,322.24. Following the transaction, the director directly owned 308,958 shares in the company, valued at $3,052,505.04. This represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 19,395 shares of company stock worth $193,466. 69.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Consumer Portfolio Services by 8.5% during the second quarter. Geode Capital Management LLC now owns 212,555 shares of the credit services provider's stock worth $2,090,000 after purchasing an additional 16,563 shares in the last quarter. Empowered Funds LLC increased its position in shares of Consumer Portfolio Services by 3.8% during the first quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider's stock worth $1,308,000 after purchasing an additional 5,588 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Consumer Portfolio Services by 17.8% during the first quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider's stock worth $275,000 after purchasing an additional 4,789 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Consumer Portfolio Services from a "hold" rating to a "buy" rating in a report on Friday, July 18th.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc operates as a specialty finance company in the United States. It is involved in the purchase and service of retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans.