PROG (NYSE:PRG) Issues Earnings Results

PROG (NYSE:PRG) posted its earnings results on Wednesday. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01, Briefing.com reports. The firm had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share.

PROG Price Performance

PRG stock opened at $42.09 on Friday. The firm has a 50 day simple moving average of $46.97 and a two-hundred day simple moving average of $39.82. The stock has a market cap of $1.82 billion, a PE ratio of 17.18 and a beta of 2.11. PROG has a one year low of $26.39 and a one year high of $50.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80.

PROG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio is currently 19.59%.

Wall Street Analyst Weigh In

PRG has been the topic of a number of analyst reports. KeyCorp boosted their target price on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. TD Cowen raised their target price on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group upped their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and raised their price objective for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Finally, Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

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.