Raymond James Has Negative Outlook of Propel FY2024 Earnings

Propel Holdings Inc. (TSE:PRL) – Raymond James decreased their FY2024 earnings estimates for Propel in a research note issued to investors on Wednesday, January 22nd. Raymond James analyst S. Boland now anticipates that the company will earn $2.39 per share for the year, down from their previous forecast of $2.58. The consensus estimate for Propel’s current full-year earnings is $5.39 per share. Raymond James also issued estimates for Propel’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.90 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.54 EPS and FY2026 earnings at $5.15 EPS.

Propel (TSE:PRL) last posted its earnings results on Wednesday, November 6th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.19). Propel had a return on equity of 36.84% and a net margin of 10.17%.

A number of other brokerages have also issued reports on PRL. Stephens raised Propel to a “strong-buy” rating in a research report on Wednesday, November 13th. Eight Capital raised their price objective on Propel from C$38.00 to C$45.00 in a research report on Friday, November 8th. Ventum Financial set a C$38.00 price objective on shares of Propel and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Ventum Cap Mkts raised Propel to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Scotiabank downgraded Propel from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $41.00.

Propel Stock Up 6.6 %

Shares of TSE:PRL opened at $41.55 on Monday. The company’s fifty day simple moving average is $37.09 and its 200 day simple moving average is $32.07. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 29.06 and a beta of 1.75. Propel has a 12 month low of $14.97 and a 12 month high of $43.36.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, December 4th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.44%. This is a boost from Propel’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, November 15th. Propel’s dividend payout ratio is currently 39.16%.

Insider Activity

In other news, Senior Officer Cindy Usprech sold 859 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $38.30, for a total value of $32,899.70. Also, Senior Officer Noah Buchman sold 18,800 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $37.40, for a total value of $703,120.00. In the last ninety days, insiders sold 60,459 shares of company stock worth $2,241,343. Insiders own 33.31% of the company’s stock.

Propel Company Profile

Propel Holdings Inc operates as a financial technology company. The company’s lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers. It also offers marketing, analytics, and loan servicing services.