PROG (NYSE:PRG) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

PROG (NYSE:PRG - Get Free Report) issued its earnings results on Wednesday. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03, Zacks reports. PROG had a return on equity of 24.25% and a net margin of 8.01%. The firm had revenue of $623.30 million for the quarter, compared to the consensus estimate of $612.67 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company's revenue was up 7.9% compared to the same quarter last year.

PROG Price Performance

Shares of PROG stock traded up $0.17 during mid-day trading on Friday, reaching $29.39. 1,170,904 shares of the stock traded hands, compared to its average volume of 490,631. The business has a 50-day moving average of $41.74 and a 200 day moving average of $44.82. PROG has a fifty-two week low of $27.84 and a fifty-two week high of $50.28. The stock has a market capitalization of $1.22 billion, a PE ratio of 6.47 and a beta of 2.18. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PRG shares. Stephens reiterated an "overweight" rating and set a $60.00 price target on shares of PROG in a research report on Thursday, January 2nd. TD Cowen upgraded PROG to a "strong-buy" rating in a research report on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $53.83.

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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.