PROG Holdings, Inc. (NYSE:PRG) Receives $47.20 Consensus Price Target from Brokerages

Shares of PROG Holdings, Inc. (NYSE:PRG) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $47.20.

Several equities research analysts have issued reports on PRG shares. TD Cowen boosted their price objective on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and lifted their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. BTIG Research started coverage on PROG in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Finally, KeyCorp lifted their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th.

Institutional Trading of PROG

Several institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in PROG during the 4th quarter valued at about $12,666,000. Breach Inlet Capital Management LLC bought a new position in PROG during the 4th quarter valued at about $12,572,000. Diversify Wealth Management LLC bought a new position in PROG during the 2nd quarter valued at about $8,794,000. SG Capital Management LLC bought a new position in PROG during the 1st quarter valued at about $5,932,000. Finally, Fourth Sail Capital LP bought a new position in PROG during the 2nd quarter valued at about $5,500,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Trading Down 1.4 %

Shares of PRG stock opened at $46.48 on Friday. The firm’s 50 day moving average is $42.35 and its 200 day moving average is $37.04. The stock has a market capitalization of $2.01 billion, a P/E ratio of 18.97 and a beta of 2.11. PROG has a 12-month low of $26.39 and a 12-month high of $47.93. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. The firm had revenue of $592.16 million for the quarter, compared to the consensus estimate of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company’s revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. Research analysts expect that PROG will post 3.34 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. PROG’s dividend payout ratio (DPR) is currently 19.59%.

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.