Enova International, Inc. (NYSE:ENVA) has garnered an average price target of $111.00 from eight research firms, reflecting a consensus recommendation of “Buy.” This information, reported by Marketbeat.com, indicates strong support for the credit services provider, with six analysts issuing a buy recommendation, one categorizing the stock as a strong buy, and another assigning a hold rating.
Several recent evaluations from financial analysts have shed light on the stock’s potential. Notably, JMP Securities raised its price target for Enova from $135.00 to $149.00, designating it with a “market outperform” rating. Conversely, Zacks Research downgraded Enova from a “strong-buy” to a “hold” rating on September 25, 2023. Meanwhile, BTIG Research increased its price target from $129.00 to $144.00 while maintaining a buy rating for the firm. Additionally, Weiss Ratings reaffirmed its “buy (b-)” rating on October 8, 2023.
Investors have also shown interest in Enova’s stock, as several large institutions have adjusted their positions recently. The California State Teachers Retirement System increased its holdings by 0.4% during the second quarter, now owning 24,268 shares valued at approximately $2.7 million. Similarly, J.Safra Asset Management Corp raised its stake by 6.5%, acquiring an additional 232 shares in the first quarter, bringing their total to 3,784 shares worth about $365,000.
The Police & Firemen’s Retirement System of New Jersey also increased its holdings by 6.1%, owning 5,754 shares valued at around $642,000. Furthermore, EverSource Wealth Advisors LLC expanded its stake significantly, increasing its holdings by 350.0% in the second quarter, now owning 450 shares valued at around $50,000.
Financial Performance and Market Metrics
Enova International’s shares opened at $124.91 on Wednesday, with a 12-month low of $79.41 and a high of $130.34. The company exhibits a debt-to-equity ratio of 3.23, while its quick and current ratios stand at 18.15. The market capitalization of Enova is reported at $3.12 billion, with a price-to-earnings ratio of 11.48 and a beta of 1.49. The stock’s 50-day and 200-day simple moving averages are $115.96 and $106.04, respectively.
Enova International recently reported its quarterly earnings on October 23, 2023, revealing an earnings per share (EPS) of $3.36. This performance surpassed the consensus estimate of $3.03 by $0.33. The company achieved a return on equity of 24.89% and a net margin of 9.64%. Revenue for the quarter reached $802.68 million, slightly below analysts’ expectations of $806.63 million, but reflecting a 16.3% increase compared to the previous year’s quarter. Analysts anticipate an EPS of $10.31 for the current fiscal year.
About Enova International
Enova International, Inc. operates as a technology and analytics company offering online financial services across the United States and internationally, including Brazil. The firm’s services encompass installment loans, line of credit accounts, and programs that facilitate loans with independent third-party lenders.
As Enova navigates the financial landscape, the ongoing interest from analysts and institutional investors underscores its potential for growth and stability in the competitive credit services market.
