PROG (NYSE:PRG) Issues Earnings Results, Beats Estimates By $0.22 EPS

PROG (NYSE:PRG) issued its quarterly earnings data on Wednesday. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22, Briefing.com reports. The business had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. PROG had a net margin of 4.71% and a return on equity of 26.67%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share.

PROG Trading Up 0.4 %

Shares of PRG traded up $0.16 during mid-day trading on Thursday, hitting $42.41. The company had a trading volume of 1,452,705 shares, compared to its average volume of 395,078. PROG has a 1-year low of $26.39 and a 1-year high of $44.81. The business’s 50-day simple moving average is $35.16 and its 200-day simple moving average is $33.27. The company has a quick ratio of 1.83, a current ratio of 3.91 and a debt-to-equity ratio of 1.01. The stock has a market cap of $1.83 billion, a PE ratio of 17.36 and a beta of 2.10.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. PROG’s dividend payout ratio is currently 19.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PRG shares. TD Cowen boosted their target price on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday. Loop Capital upped their price objective on shares of PROG from $35.00 to $41.00 and gave the company a “hold” rating in a research note on Thursday. BTIG Research initiated coverage on shares of PROG in a research note on Friday, June 7th. They set a “neutral” rating for the company. Finally, KeyCorp upped their price objective on shares of PROG from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday. 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 company presently has an average rating of “Moderate Buy” and an average price target of $42.60.

PROG Company Profile

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.