Financial technology company Atlanticus Holdings (NASDAQ:ATLC) will be announcing earnings results this Thursday afternoon. Here’s what investors should know.
Atlanticus Holdings beat analysts’ revenue expectations last quarter, reporting revenues of $609.2 million, up 97.4% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Atlanticus Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Atlanticus Holdings’s revenue to grow 103% year on year, improving from the 16.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Atlanticus Holdings has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Atlanticus Holdings’s peers in the personal loan segment, some have already reported their Q1 results, giving us a hint as to what we can expect. FirstCash delivered year-on-year revenue growth of 25.7%, beating analysts’ expectations by 4.8%, and LendingClub reported revenues up 15.9%, topping estimates by 1.2%. FirstCash traded up 3.1% following the results while LendingClub was down 1.8%.
Read our full analysis of FirstCash’s results here and LendingClub’s results here.
There has been positive sentiment among investors in the personal loan segment, with share prices up 8% on average over the last month. Atlanticus Holdings is up 39.9% during the same time and is heading into earnings with an average analyst price target of $92.40 (compared to the current share price of $77.43).
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