PROG (NYSE:PRG) Releases Q4 Earnings Guidance

PROG (NYSE:PRG) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.70-$0.80 for the period, compared to the consensus earnings per share estimate of $0.74. The company issued revenue guidance of $599.8-$619.8 million, compared to the consensus revenue estimate of $604.47 million.

PROG Trading Down 0.1 %

NYSE:PRG opened at $46.97 on Wednesday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 19.17 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 has a 1 year low of $26.39 and a 1 year high of $50.28. The business has a fifty day moving average of $46.87 and a 200-day moving average of $39.63.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $592.16 million for the quarter, compared to analyst estimates of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. Equities analysts predict that PROG will post 3.34 earnings per share for the current year.

PROG Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PRG shares. KeyCorp raised their target price on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. TD Cowen raised their price objective 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. Jefferies Financial Group lifted their price objective on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and increased their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.