Stock Buyback Plan Initiated by Enova International (NYSE:ENVA) Board

Enova International (NYSE:ENVA) declared that its board has approved a stock buyback program on Tuesday, November 10th, RTT News reports. The company plans to repurchase $500 million in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 12.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Enova International Price Performance

ENVA traded up $1.03 during trading on Tuesday, hitting $169.37. The company’s stock had a trading volume of 334,244 shares, compared to its average volume of 340,392. The firm’s 50 day moving average price is $183.86 and its two-hundred day moving average price is $184.30. The company has a quick ratio of 18.91, a current ratio of 18.92 and a debt-to-equity ratio of 3.43. Enova International has a 12 month low of $119.02 and a 12 month high of $267.45. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 11.22 and a beta of 1.36.

Enova International (NYSE:ENVA) last announced its earnings results on Thursday, October 22nd. The credit services provider reported $4.48 EPS for the quarter, topping the consensus estimate of $4.42 by $0.06. Enova International had a return on equity of 27.25% and a net margin of 10.47%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business earned $3.36 earnings per share. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. Sell-side analysts forecast that Enova International will post 16.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ENVA. Wall Street Zen cut Enova International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Zacks Research cut Enova International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 16th. Citizens Jmp lifted their price objective on Enova International from $215.00 to $220.00 and gave the company a “market outperform” rating in a report on Friday, October 23rd. Maxim Group reduced their target price on shares of Enova International from $285.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enova International in a report on Thursday, October 15th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Enova International currently has an average rating of “Moderate Buy” and an average target price of $239.00.

Insider Activity at Enova International

In other Enova International news, CEO Steven Cunningham sold 15,305 shares of the stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $172.00, for a total transaction of $2,632,460.00. Following the sale, the chief executive officer owned 118,789 shares of the company’s stock, valued at $20,431,708. This represents a 11.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Sean Rahilly sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $183.26, for a total transaction of $1,832,600.00. Following the completion of the sale, the general counsel owned 104,249 shares of the company’s stock, valued at $19,104,671.74. The trade was a 8.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,758 shares of company stock worth $21,490,436 in the last 90 days. Corporate insiders own 8.40% of the company’s stock.

Enova International Company Profile

Enova International is a financial technology company that provides online financial services to consumers and small businesses, with a focus on customers who may have limited access to traditional credit. Its products include installment loans and lines of credit. The company serves consumers through brands including CashNetUSA and NetCredit, and provides financing to small businesses through OnDeck and Headway Capital. Enova also uses data analytics and technology to support its lending and customer-service operations.