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

PRA Group (NASDAQ:PRAA - Get Free Report) released its quarterly earnings results on Monday. The business services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $281.48 million for the quarter, compared to analyst estimates of $262.20 million. During the same quarter last year, the firm posted ($0.31) earnings per share. The company's quarterly revenue was up 30.1% compared to the same quarter last year.

PRA Group Stock Up 15.9 %

NASDAQ PRAA traded up $3.27 during midday trading on Tuesday, hitting $23.83. The company had a trading volume of 1,071,761 shares, compared to its average volume of 208,324. The firm has a fifty day simple moving average of $21.34 and a two-hundred day simple moving average of $22.03. The stock has a market cap of $939.38 million, a price-to-earnings ratio of 238.32 and a beta of 1.50. PRA Group has a fifty-two week low of $13.64 and a fifty-two week high of $31.43.

Insider Activity at PRA Group

In other news, Director Geir Olsen purchased 11,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the purchase, the director now directly owns 11,750 shares of the company's stock, valued at approximately $251,332.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PRAA has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of PRA Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Truist Financial increased their target price on PRA Group from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday.

About PRA Group

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.