PROG Holdings, Inc. (NYSE:PRG) Receives $52.60 Average PT from Analysts

PROG Holdings, Inc. (NYSE:PRG) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $52.60.

A number of analysts recently commented on PRG shares. Jefferies Financial Group raised their price target on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. TD Cowen raised their target price 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. KeyCorp lifted their target price on shares of PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Thursday, October 24th. Finally, 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 report on Monday, August 19th.

PROG Stock Performance

Shares of NYSE:PRG opened at $47.91 on Monday. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $46.70 and a 200-day moving average price of $40.65. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 13.27 and a beta of 2.11. PROG has a 12 month low of $26.39 and a 12 month high of $50.28.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. PROG’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, equities analysts anticipate that PROG will post 3.35 EPS for the current year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, November 19th. PROG’s payout ratio is currently 13.30%.

Institutional Investors Weigh In On PROG

Hedge funds and other institutional investors have recently bought and sold shares of the business. Moran Wealth Management LLC purchased a new stake in shares of PROG in the third quarter worth $3,084,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in PROG in the 3rd quarter worth about $505,000. Meeder Asset Management Inc. grew its position in PROG by 47.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 10,444 shares of the company’s stock valued at $506,000 after purchasing an additional 3,384 shares during the last quarter. MAI Capital Management increased its stake in PROG by 146.1% during the 3rd quarter. MAI Capital Management now owns 27,846 shares of the company’s stock valued at $1,350,000 after purchasing an additional 16,531 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in PROG by 4.8% in the third quarter. Natixis Advisors LLC now owns 14,661 shares of the company’s stock worth $711,000 after buying an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

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.