PRA Group (NASDAQ:PRAA) Issues Earnings Results

PRA Group (NASDAQ:PRAA) released its quarterly earnings results on Monday. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.46, Briefing.com reports. The company had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. PRA Group had a negative return on equity of 1.76% and a negative net margin of 2.37%. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share.

PRA Group Trading Up 4.3 %

NASDAQ PRAA traded up $0.92 during trading on Wednesday, reaching $22.10. 308,481 shares of the company’s stock were exchanged, compared to its average volume of 202,245. The company’s fifty day simple moving average is $21.35 and its 200-day simple moving average is $23.44. The firm has a market capitalization of $869.68 million, a PE ratio of -39.52 and a beta of 1.48. PRA Group has a fifty-two week low of $11.85 and a fifty-two week high of $31.43.

Analyst Upgrades and Downgrades

Several research firms have commented on PRAA. StockNews.com cut shares of PRA Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. JMP Securities reaffirmed a “market outperform” rating and set a $33.00 target price on shares of PRA Group in a research note on Tuesday, May 7th.

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.