PROG Holdings, Inc. (NYSE:PRG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $52.60.
Several equities analysts have recently weighed in on PRG shares. Loop Capital raised PROG from a "hold" rating to a "buy" rating and lifted their price objective for the company from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp lifted their price target on shares of PROG from $46.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on shares of PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. 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 research note on Thursday, October 24th. Finally, TD Cowen upped their price target on shares of PROG from $40.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th.
Read Our Latest Analysis on PROG
Institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. acquired a new position in PROG in the 3rd quarter worth $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG during the third quarter worth about $33,000. GAMMA Investing LLC lifted its stake in shares of PROG by 72.0% in the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock worth $39,000 after acquiring an additional 337 shares in the last quarter. Point72 DIFC Ltd purchased a new position in PROG in the second quarter valued at about $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in PROG in the first quarter valued at about $59,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PRG opened at $44.03 on Monday. The company has a market cap of $1.83 billion, a P/E ratio of 12.20 and a beta of 2.11. The firm's 50 day moving average is $46.72 and its two-hundred day moving average is $40.34. PROG has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94.
PROG (NYSE:PRG - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business had revenue of $606.10 million for the quarter, compared to analyst estimates of $601.86 million. During the same period last year, the company posted $0.90 EPS. The business's quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that PROG will post 3.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. PROG's dividend payout ratio is currently 13.30%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider PROG, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PROG wasn't on the list.
While PROG currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.