PRA Group (NASDAQ:PRAA) Issues Earnings Results, Beats Estimates By $0.37 EPS

PRA Group (NASDAQ:PRAA) released its quarterly earnings results on Monday. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.37, Briefing.com reports. The business had revenue of $281.48 million during the quarter, compared to analysts’ expectations of $262.20 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) EPS.

PRA Group Stock Performance

PRAA stock traded up $1.96 on Tuesday, hitting $22.52. 79,270 shares of the company’s stock were exchanged, compared to its average volume of 203,686. The firm has a 50 day moving average price of $21.34 and a two-hundred day moving average price of $22.03. PRA Group has a 12-month low of $13.64 and a 12-month high of $31.43. The stock has a market cap of $887.74 million, a P/E ratio of 236.72 and a beta of 1.50.

Insider Buying and Selling at PRA Group

In other PRA Group news, Director Geir Olsen purchased 11,750 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the acquisition, the director now owns 11,750 shares in the company, valued at $251,332.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PRAA has been the subject of several recent analyst reports. Truist Financial dropped their target price on PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

About PRA Group

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.