Eight Capital Forecasts Strong Price Appreciation for Propel (TSE:PRL) Stock

Propel (TSE:PRL) had its target price lifted by Eight Capital from C$38.00 to C$45.00 in a research note published on Friday morning,BayStreet.CA reports.

Several other analysts also recently issued reports on PRL. Canaccord Genuity Group raised shares of Propel to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank raised shares of Propel from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$28.00 to C$34.00 in a research note on Friday, October 4th. Raymond James raised their price objective on shares of Propel from C$34.00 to C$40.00 in a research note on Thursday. Ventum Financial set a C$38.00 price objective on shares of Propel and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Ventum Cap Mkts raised shares of Propel to a “strong-buy” rating in a research note on Tuesday, October 8th.

Propel Price Performance

Shares of Propel stock traded up $0.08 during trading on Friday, reaching $39.74. 231,996 shares of the stock traded hands, compared to its average volume of 90,645. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.79 and a beta of 1.75. The business has a fifty day simple moving average of $31.53 and a two-hundred day simple moving average of $25.07. Propel has a 52-week low of $8.19 and a 52-week high of $40.88.

Propel (TSE:PRL) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $146.06 million during the quarter, compared to analyst estimates of $137.00 million. Propel had a return on equity of 36.84% and a net margin of 10.17%. On average, research analysts predict that Propel will post 5.3923205 earnings per share for the current fiscal year.

Propel Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Propel’s previous quarterly dividend of $0.14. Propel’s payout ratio is currently 39.16%.

Propel Company Profile

Propel Holdings Inc operates as a financial technology company. The company’s lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers. It also offers marketing, analytics, and loan servicing services.