PROG Holdings, Inc. (NYSE:PRG) Given Consensus Rating of “Moderate Buy” by Analysts

PROG Holdings, Inc. (NYSE:PRG) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $52.60.

A number of analysts have recently issued reports on the company. 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 research report on Monday, August 19th. TD Cowen lifted their target price 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. KeyCorp increased their price target on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report 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 objective for the company in a report on Thursday, October 24th. Finally, Jefferies Financial Group upped their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st.

PROG Stock Performance

NYSE PRG opened at $47.91 on Monday. PROG has a 1 year low of $26.39 and a 1 year high of $50.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The stock has a market capitalization of $1.99 billion, a PE ratio of 13.27 and a beta of 2.11. The company’s 50 day simple moving average is $46.70 and its two-hundred day simple moving average is $40.65.

PROG (NYSE:PRG) last released its quarterly 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 net margin of 6.55% and a return on equity of 24.56%. The firm had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts predict that PROG will post 3.35 earnings per share for the current fiscal year.

PROG Announces Dividend

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

Institutional Trading of PROG

Several hedge funds have recently added to or reduced their stakes in PRG. Whittier Trust Co. bought a new position in shares of PROG during the third quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new stake in PROG during the 3rd quarter valued at about $33,000. GAMMA Investing LLC grew its position in PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after acquiring an additional 337 shares during the last quarter. Point72 DIFC Ltd purchased a new position in PROG in the 2nd quarter worth approximately $47,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in PROG in the first quarter valued at approximately $59,000. 97.92% of the stock is owned by institutional investors.

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.