PROG Holdings, Inc. (NYSE:PRG) Receives $45.40 Consensus Price Target from Analysts

Shares of PROG Holdings, Inc. (NYSE:PRG) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $45.40.

A number of equities analysts have weighed in on the stock. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. TD Cowen upped their price objective on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BTIG Research assumed coverage on PROG in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, KeyCorp upped their price target on PROG from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th.

PROG Stock Down 0.3 %

Shares of PRG opened at $47.12 on Wednesday. The business’s 50 day simple moving average is $38.83 and its 200-day simple moving average is $35.45. PROG has a one year low of $26.39 and a one year high of $47.80. The company has a market capitalization of $2.03 billion, a P/E ratio of 19.23 and a beta of 2.09. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. PROG had a return on equity of 26.30% and a net margin of 4.57%. The company had revenue of $592.16 million for the quarter, compared to analyst estimates of $573.23 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict that PROG will post 3.34 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. PROG’s dividend payout ratio is currently 19.59%.

Institutional Investors Weigh In On PROG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRG. Point72 DIFC Ltd acquired a new position in shares of PROG during the 2nd quarter worth about $47,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG in the 1st quarter valued at about $59,000. Blue Trust Inc. lifted its holdings in shares of PROG by 2,015.1% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $68,000 after purchasing an additional 1,874 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of PROG during the second quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PROG during the second quarter worth about $88,000. Institutional investors own 97.92% of the company’s stock.

About PROG

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.