PRA Group (NASDAQ:PRAA) Posts Quarterly Earnings Results, Beats Expectations By $0.37 EPS

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

PRA Group Stock Up 2.8 %

PRAA stock traded up $0.67 during mid-day trading on Wednesday, hitting $24.50. The company had a trading volume of 33,758 shares, compared to its average volume of 207,437. The company has a market capitalization of $965.79 million, a price-to-earnings ratio of 238.32 and a beta of 1.50. The company has a 50-day moving average price of $21.36 and a 200 day moving average price of $22.02. PRA Group has a 12-month low of $15.63 and a 12-month high of $31.43.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Truist Financial upped their target price on shares of PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday.

PRA Group Company Profile

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.