Envela Co. (NYSEAMERICAN:ELA) Expected to Earn FY2024 Earnings of $0.21 Per Share

Envela Co. (NYSEAMERICAN:ELA) – Investment analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for Envela in a research note issued on Thursday, August 8th. B. Riley analyst J. Van. Sinderen now expects that the company will earn $0.21 per share for the year, up from their previous forecast of $0.18. The consensus estimate for Envela’s current full-year earnings is $0.18 per share. B. Riley also issued estimates for Envela’s FY2025 earnings at $0.35 EPS.

Envela (NYSEAMERICAN:ELA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Envela had a net margin of 4.00% and a return on equity of 13.55%. The company had revenue of $45.30 million during the quarter, compared to the consensus estimate of $36.02 million.

Envela Stock Performance

Shares of NYSEAMERICAN:ELA opened at $4.93 on Monday. The company has a market cap of $129.56 million, a P/E ratio of 20.54 and a beta of 0.15. Envela has a 1-year low of $3.02 and a 1-year high of $5.86. The company has a quick ratio of 2.52, a current ratio of 5.04 and a debt-to-equity ratio of 0.27.

Institutional Investors Weigh In On Envela

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Envela by 0.8% in the first quarter. Vanguard Group Inc. now owns 453,065 shares of the company’s stock worth $2,093,000 after buying an additional 3,678 shares during the period. Renaissance Technologies LLC boosted its stake in Envela by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock worth $877,000 after purchasing an additional 20,624 shares during the period. Finally, Leo Wealth LLC purchased a new position in Envela during the 4th quarter worth approximately $406,000. 8.15% of the stock is owned by hedge funds and other 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.