Propel (TSE:PRL) Sets New 52-Week High – What’s Next?

Propel Holdings Inc. (TSE:PRL) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $42.75 and last traded at $41.95, with a volume of 38576 shares changing hands. The stock had previously closed at $40.59.

Analyst Ratings Changes

Several research firms recently issued reports on PRL. Ventum Financial set a C$38.00 target price on Propel and gave the company a “buy” rating in a research report on Wednesday, October 9th. Eight Capital increased their price target on Propel from C$38.00 to C$45.00 in a research report on Friday, November 8th. Scotiabank downgraded Propel from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Stephens raised Propel to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group raised Propel to a “strong-buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $41.00.

Propel Stock Performance

The stock’s 50 day simple moving average is $36.79 and its two-hundred day simple moving average is $31.73. The firm has a market capitalization of $1.45 billion, a PE ratio of 29.41 and a beta of 1.75.

Propel (TSE:PRL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Propel had a return on equity of 36.84% and a net margin of 10.17%. Equities research analysts expect that Propel Holdings Inc. will post 5.3923205 earnings per share for the current fiscal year.

Propel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, December 4th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, November 15th. This is an increase from Propel’s previous quarterly dividend of $0.14. Propel’s dividend payout ratio (DPR) is 39.16%.

Insider Activity at Propel

In other news, Director Clive Kinross sold 30,000 shares of Propel stock in a transaction on Monday, December 16th. The shares were sold at an average price of $36.79, for a total transaction of $1,103,817.00. Also, Senior Officer Cindy Usprech sold 5,600 shares of Propel stock in a transaction on Friday, December 20th. The stock was sold at an average price of $36.13, for a total transaction of $202,345.92. In the last quarter, insiders sold 60,459 shares of company stock worth $2,241,343. Insiders own 33.31% of the company’s stock.

Propel Company Profile

Propel Holdings Inc operates as a financial technology company. The company’s lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers. It also offers marketing, analytics, and loan servicing services.