PROG Holdings, Inc. (NYSE:PRG) Given Consensus Rating of "Moderate Buy" by Brokerages

PROG Holdings, Inc. (NYSE:PRG - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $52.60.

PRG has been the subject of a number of analyst reports. Loop Capital upgraded PROG from a "hold" rating to a "buy" rating and raised their price objective for the stock from $41.00 to $55.00 in a research report on Monday, August 19th. KeyCorp raised their price objective on PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their target price on PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. TD Cowen lifted their target price on PROG from $40.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Finally, Raymond James upgraded PROG from a "market perform" rating to an "outperform" rating and set a $48.00 target price for the company in a report on Thursday, October 24th.

PROG Trading Up 1.5 %

PROG stock traded up $0.68 during trading hours on Monday, hitting $44.71. The stock had a trading volume of 292,664 shares, compared to its average volume of 408,819. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 12.39 and a beta of 2.11. PROG has a one year low of $26.39 and a one year high of $50.28. The business's 50 day simple moving average is $46.67 and its 200-day simple moving average is $40.44.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same period last year, the company earned $0.90 earnings per share. The firm's revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that PROG will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. PROG's dividend payout ratio (DPR) is presently 13.30%.

Institutional Investors Weigh In On PROG

Hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new position in shares of PROG during the third quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new position in shares of PROG during the third quarter valued at approximately $33,000. GAMMA Investing LLC boosted its position in shares of PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after buying an additional 337 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of PROG during the second quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in PROG during the first quarter worth $59,000. Institutional investors and hedge funds own 97.92% of the company's stock.

PROG Company Profile

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.