Ventum Cap Mkts Has Positive View of Propel FY2024 Earnings

Propel Holdings Inc. (TSE:PRL - Free Report) - Equities researchers at Ventum Cap Mkts upped their FY2024 earnings estimates for Propel in a report issued on Wednesday, February 12th. Ventum Cap Mkts analyst R. Goff now forecasts that the company will post earnings per share of $2.07 for the year, up from their prior forecast of $2.02. The consensus estimate for Propel's current full-year earnings is $5.39 per share. Ventum Cap Mkts also issued estimates for Propel's FY2024 earnings at $2.07 EPS, Q1 2025 earnings at $0.76 EPS, Q3 2025 earnings at $0.79 EPS, FY2025 earnings at $3.33 EPS, FY2025 earnings at $3.33 EPS, FY2026 earnings at $4.25 EPS, FY2026 earnings at $4.25 EPS and FY2027 earnings at $5.16 EPS.

A number of other research analysts have also issued reports on the company. Scotiabank lowered Propel from a "strong-buy" rating to a "hold" rating in a report on Friday, November 8th. Raymond James lifted their price target on shares of Propel from C$40.00 to C$47.00 in a research report on Monday, November 18th. Stephens upgraded Propel to a "strong-buy" rating in a research report on Wednesday, November 13th. Finally, Eight Capital raised their price objective on Propel from C$38.00 to C$45.00 in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Propel currently has a consensus rating of "Buy" and a consensus target price of $41.00.

Propel Stock Down 3.4 %

TSE PRL traded down $1.17 on Monday, reaching $33.29. 208,292 shares of the stock traded hands, compared to its average volume of 153,859. Propel has a 12 month low of $14.97 and a 12 month high of $43.36. The firm's fifty day simple moving average is $36.98 and its 200 day simple moving average is $33.55. The company has a market cap of $926.82 million, a price-to-earnings ratio of 20.59 and a beta of 1.75.

Insider Buying and Selling

In other news, Senior Officer Jonathan Ari Goler sold 5,200 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $38.30, for a total value of $199,160.00. Also, Senior Officer Noah Buchman sold 18,800 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $37.40, for a total transaction of $703,120.00. In the last 90 days, insiders sold 59,600 shares of company stock valued at $2,208,443. Company insiders own 33.31% of the company's stock.

Propel Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Wednesday, March 5th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 7.93%. The ex-dividend date is Wednesday, February 19th. This is an increase from Propel's previous quarterly dividend of $0.15. Propel's dividend payout ratio is 34.64%.

About Propel

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.