Company did not provide specific guidance for future quarters or full-year results in the press release
Overview
U.S. re-commerce provider's Q2 revenue rose 3.5% yr/yr to $56.8 mln
Q2 diluted EPS increased 45% yr/yr to $0.16
Margin expansion and higher profitability driven by favorable sales mix, cost discipline
Result Drivers
FAVORABLE SALES MIX - Co said margin expansion was driven by a favorable sales mix
COST DISCIPLINE - Co said disciplined cost management reduced operating expenses
PRECIOUS METALS PRICE CORRECTION - Co said precious metals prices corrected from January's record levels, leading to normalized volumes
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories retailers peer group is "buy"
Wall Street's median 12-month price target for Envela Corp is $25.50, about 16.3% above its August 4 closing price of $21.93
The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 32 three months ago
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