PROG (NYSE:PRG – Get Free Report) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.700-0.800 for the period, compared to the consensus earnings per share estimate of 0.700. The company issued revenue guidance of $590.0 million-$605.0 million, compared to the consensus revenue estimate of $560.6 million. PROG also updated its FY 2024 guidance to 3.250-3.400 EPS.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PRG. Loop Capital upped their price target on PROG from $31.00 to $35.00 and gave the stock a hold rating in a research note on Thursday, April 25th. BTIG Research began coverage on PROG in a research note on Friday, June 7th. They set a neutral rating for the company. Finally, TD Cowen increased their target price on PROG from $38.00 to $40.00 and gave the company a buy rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.60.
Check Out Our Latest Stock Report on PROG
PROG Price Performance
PROG (NYSE:PRG – Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. The firm had revenue of $641.87 million during the quarter, compared to the consensus estimate of $632.24 million. PROG had a return on equity of 26.67% and a net margin of 4.71%. Sell-side analysts forecast that PROG will post 2.98 earnings per share for the current fiscal year.
PROG Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.12 per share. The ex-dividend date was Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.14%. PROG’s payout ratio is currently 19.59%.
About PROG
PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.
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