PROG (NYSE:PRG – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.250-3.400 for the period, compared to the consensus EPS estimate of 2.970. The company issued revenue guidance of $2.4 billion-$2.5 billion, compared to the consensus revenue estimate of $2.4 billion. PROG also updated its FY24 guidance to $3.25-3.40 EPS.
Wall Street Analyst Weigh In
PRG has been the topic of several recent research reports. TD Cowen increased their price target on PROG from $40.00 to $47.00 and gave the company a buy rating in a report on Thursday. BTIG Research assumed coverage on shares of PROG in a research note on Friday, June 7th. They issued a neutral rating on the stock. Loop Capital lifted their price target on shares of PROG from $35.00 to $41.00 and gave the stock a hold rating in a research note on Thursday. Finally, KeyCorp increased their price objective on shares of PROG from $44.00 to $46.00 and gave the stock an overweight rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $42.60.
Read Our Latest Analysis on PRG
PROG Trading Up 3.8 %
PROG (NYSE:PRG – Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $592.16 million for the quarter, compared to the consensus estimate of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. Equities research analysts forecast that PROG will post 3.35 earnings per share for the current year.
PROG Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, May 24th. PROG’s dividend payout ratio is 19.59%.
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.
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