Enova International (NYSE:ENVA) Shares Up 9% After Better-Than-Expected Earnings

Key Points

• Enova International's stock price surged 9% after the company exceeded earnings expectations, reporting $3.36 earnings per share compared to the expected $3.03.
• The firm saw a revenue of $802.68 million for the quarter, which is a 16.3% year-over-year increase, despite falling short of the $806.63 million consensus estimate.
• Analysts provided mixed ratings on the stock, with one lowering the rating to "hold," while others increased price targets and maintained "buy" recommendations, indicating a generally positive outlook.

Enova International, Inc. (NYSE:ENVA - Get Free Report)'s share price shot up 9% on Friday following a better than expected earnings announcement. The company traded as high as $126.20 and last traded at $124.25. 106,453 shares changed hands during trading, a decline of 61% from the average session volume of 273,916 shares. The stock had previously closed at $114.03.

The credit services provider reported $3.36 earnings per share for the quarter, beating analysts' consensus estimates of $3.03 by $0.33. Enova International had a return on equity of 23.33% and a net margin of 8.75%.The business had revenue of $802.68 million for the quarter, compared to the consensus estimate of $806.63 million. During the same quarter last year, the business posted $2.45 earnings per share. The company's revenue for the quarter was up 16.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Enova International from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. JMP Securities lifted their target price on shares of Enova International from $135.00 to $149.00 and gave the stock a "market outperform" rating in a research report on Friday. BTIG Research lifted their target price on shares of Enova International from $129.00 to $144.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Enova International in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $116.80.

Insider Transactions at Enova International

In related news, CAO James Joseph Lee sold 478 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $105.61, for a total transaction of $50,481.58. Following the transaction, the chief accounting officer directly owned 19,751 shares in the company, valued at approximately $2,085,903.11. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Fisher sold 6,000 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $125.89, for a total transaction of $755,340.00. Following the transaction, the chief executive officer owned 348,223 shares in the company, valued at $43,837,793.47. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,788 shares of company stock worth $11,009,765 in the last three months. Insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENVA. Pacer Advisors Inc. purchased a new position in shares of Enova International during the third quarter worth $28,000. EverSource Wealth Advisors LLC grew its position in shares of Enova International by 350.0% in the second quarter. EverSource Wealth Advisors LLC now owns 450 shares of the credit services provider's stock valued at $50,000 after purchasing an additional 350 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Enova International during the first quarter worth about $56,000. MTM Investment Management LLC acquired a new position in Enova International during the second quarter worth about $102,000. Finally, GAMMA Investing LLC boosted its position in Enova International by 56.5% during the first quarter. GAMMA Investing LLC now owns 1,729 shares of the credit services provider's stock worth $167,000 after acquiring an additional 624 shares during the last quarter. Institutional investors and hedge funds own 89.43% of the company's stock.

Enova International Price Performance

The stock's fifty day moving average price is $115.61 and its 200-day moving average price is $105.77. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 13.26 and a beta of 1.49. The company has a current ratio of 18.15, a quick ratio of 18.15 and a debt-to-equity ratio of 3.23.

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.

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