What is B. Riley’s Forecast for Envela FY2024 Earnings?

Envela Co. (NYSEAMERICAN:ELA) – Investment analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of Envela in a research report issued to clients and investors on Tuesday, November 5th. B. Riley analyst J. Van. Sinderen now expects that the company will post earnings per share of $0.24 for the year, up from their previous estimate of $0.21. The consensus estimate for Envela’s current full-year earnings is $0.21 per share. B. Riley also issued estimates for Envela’s Q4 2024 earnings at $0.04 EPS and FY2026 earnings at $0.40 EPS.

Separately, Lake Street Capital boosted their price objective on shares of Envela from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday.

Envela Stock Performance

NYSEAMERICAN:ELA opened at $5.90 on Thursday. Envela has a 1-year low of $3.02 and a 1-year high of $5.90. The company has a current ratio of 5.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.26. The stock has a market cap of $153.81 million, a PE ratio of 24.58 and a beta of 0.25.

Envela (NYSEAMERICAN:ELA) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Envela had a net margin of 4.10% and a return on equity of 13.27%. The firm had revenue of $46.90 million for the quarter, compared to analysts’ expectations of $39.85 million.

Hedge Funds Weigh In On Envela

Several institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Envela in the 2nd quarter worth $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Envela during the second quarter worth $50,000. US Bancorp DE bought a new position in shares of Envela in the third quarter valued at $339,000. Renaissance Technologies LLC grew its holdings in shares of Envela by 11.8% during the second quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock valued at $877,000 after buying an additional 20,624 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Envela by 0.8% during the first quarter. Vanguard Group Inc. now owns 453,065 shares of the company’s stock worth $2,093,000 after acquiring an additional 3,678 shares in the last quarter. Institutional investors and hedge funds own 8.15% of the company’s stock.

Envela Company Profile

Envela Corporation, together with its subsidiaries, operates in the re-commerce sector in the United States. The company operates through two segments, Commercial-Services and Direct-To-Consumer. It provides end-of-life asset recycling; data destruction and IT asset management; and products, services, and solutions to industrial and commercial companies, as well as operates as a re-commerce retailers of luxury hard assets.