Atlanticus (NASDAQ:ATLC) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Atlanticus (NASDAQ:ATLC - Get Free Report) released its earnings results on Thursday. The credit services provider reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.19, Zacks reports. The business had revenue of $353.19 million for the quarter, compared to the consensus estimate of $355.02 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%.

Atlanticus Price Performance

Shares of ATLC traded up $2.95 during trading hours on Wednesday, hitting $51.50. The stock had a trading volume of 49,169 shares, compared to its average volume of 31,749. Atlanticus has a 52 week low of $23.10 and a 52 week high of $64.70. The stock has a market capitalization of $759.06 million, a price-to-earnings ratio of 11.57 and a beta of 2.16. The company's fifty day moving average is $55.25 and its two-hundred day moving average is $48.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ATLC. B. Riley raised Atlanticus to a "strong-buy" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $52.00 target price (up from $45.00) on shares of Atlanticus in a research report on Monday. Finally, JMP Securities increased their price target on shares of Atlanticus from $54.00 to $75.00 and gave the stock a "market outperform" rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Atlanticus has an average rating of "Buy" and an average price target of $61.00.

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Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.