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

Envela Co. (NYSEAMERICAN:ELA) – Equities research analysts at B. Riley lifted their FY2024 earnings per share estimates for Envela in a research report issued 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 prior 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.

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

Separately, Lake Street Capital raised their price target 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. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.88 and a quick ratio of 2.72. The stock has a market cap of $153.81 million, a P/E ratio of 24.58 and a beta of 0.25. Envela has a 52-week low of $3.02 and a 52-week high of $5.90.

Institutional Investors Weigh In On Envela

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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. Renaissance Technologies LLC grew its position in shares of Envela by 11.8% in the second quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock valued at $877,000 after purchasing an additional 20,624 shares in the last quarter. US Bancorp DE purchased a new stake in Envela during the 3rd quarter worth about $339,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Envela during the 2nd quarter worth about $50,000. Finally, Cubist Systematic Strategies LLC bought a new position in Envela in the 2nd quarter worth about $42,000. 8.15% of the stock is currently owned by institutional investors.

About Envela

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.