PROG (NYSE:PRG) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

PROG (NYSE:PRG) issued its earnings results on Wednesday. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03, Zacks reports. PROG had a return on equity of 24.56% and a net margin of 6.55%. PROG updated its Q1 2025 guidance to 0.800-0.850 EPS and its FY 2025 guidance to 3.100-3.500 EPS.

PROG Stock Down 14.7 %

Shares of NYSE:PRG traded down $6.26 during trading on Wednesday, hitting $36.44. 247,284 shares of the company’s stock traded hands, compared to its average volume of 332,483. PROG has a 52 week low of $27.84 and a 52 week high of $50.28. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 10.00 and a beta of 2.18. The company has a 50-day moving average price of $42.74 and a 200-day moving average price of $45.08.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PRG. TD Cowen upgraded PROG to a “strong-buy” rating in a research note on Friday, November 29th. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Thursday, October 24th. Finally, Stephens restated an “overweight” rating and issued a $60.00 target price on shares of PROG in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.83.

About PROG

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.