Atlanticus Holdings Corp (ATLC) shares are surging 5.81% in pre-market trading on Friday, following the release of its impressive second-quarter earnings report. The consumer finance company significantly outperformed analyst expectations, demonstrating robust growth and financial strength.
Atlanticus reported adjusted earnings of $1.51 per share for the quarter ended June 30, handily beating the mean analyst estimate of $1.23. This strong performance continues a trend of exceeding expectations, as the company has consistently beaten earnings estimates in recent quarters. Revenue also impressed, rising 24.7% year-over-year to $394.16 million, surpassing the expected $357.51 million. The company's net income for the quarter stood at a healthy $28.35 million.
The market's positive reaction aligns with the generally bullish sentiment among analysts. The current average analyst rating on Atlanticus shares is "buy," with a median 12-month price target of $70.00, representing a potential upside of about 29.1% from its last closing price. This strong earnings report, coupled with positive analyst outlooks, appears to be fueling investor optimism and driving the stock's pre-market surge.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.