Envela Co. (NYSEAMERICAN:ELA) Expected to Earn FY2024 Earnings of $0.14 Per Share

Envela Co. (NYSEAMERICAN:ELAFree Report) – B. Riley decreased their FY2024 EPS estimates for shares of Envela in a research note issued to investors on Thursday, March 21st. B. Riley analyst J. Van. Sinderen now forecasts that the company will earn $0.14 per share for the year, down from their previous estimate of $0.30. The consensus estimate for Envela’s current full-year earnings is $0.14 per share. B. Riley also issued estimates for Envela’s FY2025 earnings at $0.26 EPS.

Envela Stock Down 0.9 %

NYSEAMERICAN ELA opened at $4.44 on Monday. The firm has a market cap of $116.99 million, a P/E ratio of 17.08 and a beta of 0.09. Envela has a 1 year low of $3.02 and a 1 year high of $7.97. The company has a quick ratio of 2.97, a current ratio of 5.55 and a debt-to-equity ratio of 0.28.

Envela (NYSEAMERICAN:ELAGet Free Report) last posted its earnings results on Wednesday, March 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Envela had a return on equity of 15.11% and a net margin of 4.16%. The business had revenue of $36.70 million for the quarter, compared to analyst estimates of $41.72 million.

Institutional Trading of Envela

Several institutional investors have recently made changes to their positions in ELA. O Shaughnessy Asset Management LLC boosted its stake in Envela by 18.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 30,492 shares of the company’s stock valued at $145,000 after buying an additional 4,846 shares in the last quarter. American International Group Inc. acquired a new stake in shares of Envela during the 2nd quarter worth about $27,000. Bank of New York Mellon Corp lifted its holdings in Envela by 19.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 17,462 shares of the company’s stock valued at $83,000 after purchasing an additional 2,877 shares during the last quarter. Ritholtz Wealth Management boosted its position in Envela by 27.5% in the third quarter. Ritholtz Wealth Management now owns 15,413 shares of the company’s stock valued at $73,000 after buying an additional 3,328 shares in the last quarter. Finally, Heartland Advisors Inc. boosted its position in Envela by 66.4% in the third quarter. Heartland Advisors Inc. now owns 400,000 shares of the company’s stock valued at $1,896,000 after buying an additional 159,612 shares in the last quarter. 8.15% of the stock is currently owned by institutional investors and hedge funds.

About Envela

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Envela Corporation, together with its subsidiaries, buys and sells jewelry and bullion products to individual consumers, dealers, and institutions in the United States. It offers jewelry and fine-watch products, including bridal jewelry, fashion jewelry, custom-made jewelry, diamonds, fine watches, and other products.

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