Scotiabank downgraded shares of Propel (TSE:PRL - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Friday morning,Zacks.com reports.
A number of other brokerages have also recently issued reports on PRL. Ventum Cap Mkts raised shares of Propel to a "strong-buy" rating in a research note on Tuesday, October 8th. Ventum Financial set a C$38.00 price target on shares of Propel and gave the company a "buy" rating in a research note on Wednesday, October 9th. Eight Capital boosted their target price on shares of Propel from C$38.00 to C$45.00 in a research report on Friday. Canaccord Genuity Group raised shares of Propel to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Raymond James boosted their target price on shares of Propel from C$34.00 to C$40.00 in a research note on Thursday, November 7th.
Read Our Latest Analysis on Propel
Propel Trading Down 6.9 %
Shares of Propel stock traded down $2.65 during trading hours on Friday, reaching $35.53. 192,000 shares of the company's stock were exchanged, compared to its average volume of 92,052. Propel has a fifty-two week low of $8.65 and a fifty-two week high of $40.88. The stock has a market cap of $1.22 billion, a P/E ratio of 26.70 and a beta of 1.75. The company has a 50 day moving average of $31.70 and a two-hundred day moving average of $25.22.
Propel Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 1.69%. This is an increase from Propel's previous quarterly dividend of $0.14. Propel's payout ratio is currently 39.16%.
Propel Company Profile
(
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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.
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