PROG (PRG) Set to Announce Earnings on Wednesday

PROG (NYSE:PRG) is scheduled to be releasing its earnings data before the market opens on Wednesday, October 23rd. Analysts expect PROG to post earnings of $0.76 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.22. PROG had a return on equity of 26.30% and a net margin of 4.57%. The company had revenue of $592.16 million during the quarter, compared to analyst estimates of $573.23 million. During the same quarter last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts expect PROG to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

PROG Trading Down 2.5 %

Shares of PRG opened at $47.02 on Tuesday. The business has a 50-day moving average of $46.87 and a 200 day moving average of $39.63. PROG has a fifty-two week low of $26.39 and a fifty-two week high of $50.28. The firm has a market cap of $2.03 billion, a P/E ratio of 19.19 and a beta of 2.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.02%. The ex-dividend date was Tuesday, August 20th. PROG’s dividend payout ratio (DPR) is currently 19.59%.

Wall Street Analysts Forecast Growth

PRG has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. 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. KeyCorp raised their target price on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and raised their target price for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PROG presently has a consensus rating of “Moderate Buy” and an average target price of $50.40.

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.