PROG Holdings, Inc. (NYSE:PRG) Given Consensus Rating of “Moderate Buy” by Analysts

PROG Holdings, Inc. (NYSE:PRG) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $47.20.

PRG has been the topic of a number of recent research reports. TD Cowen lifted their price target 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. KeyCorp increased their price target on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. Finally, BTIG Research assumed coverage on PROG in a research report on Friday, June 7th. They set a “neutral” rating on the stock.

PROG Trading Up 3.1 %

Shares of PRG opened at $48.82 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80. PROG has a 1-year low of $26.39 and a 1-year high of $49.09. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 19.93 and a beta of 2.11. The firm has a 50 day simple moving average of $42.66 and a 200-day simple moving average of $37.11.

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

PROG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, August 20th. PROG’s payout ratio is currently 19.59%.

Institutional Investors Weigh In On PROG

Large investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of PROG during the second quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale purchased a new position in PROG during the 1st quarter worth approximately $59,000. Blue Trust Inc. raised its stake in PROG by 2,015.1% during the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $68,000 after purchasing an additional 1,874 shares during the period. nVerses Capital LLC acquired a new stake in PROG during the 2nd quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in PROG during the 2nd quarter valued at $88,000. 97.92% of the stock is owned by institutional investors.

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.