Propel (TSE:PRL) Upgraded at Scotiabank

Scotiabank upgraded shares of Propel (TSE:PRL) from a sector perform rating to an outperform rating in a research note published on Friday morning, BayStreet.CA reports. The firm currently has C$34.00 target price on the stock, up from their previous target price of C$28.00.

Propel Price Performance

Shares of PRL stock opened at $31.54 on Friday. The business has a fifty day moving average of $27.56 and a 200 day moving average of $21.41. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 22.37 and a beta of 1.81. Propel has a 1 year low of $7.07 and a 1 year high of $32.55.

Propel (TSE:PRL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Propel had a net margin of 10.17% and a return on equity of 36.84%. The firm had revenue of $146.06 million for the quarter, compared to analyst estimates of $137.00 million. As a group, equities research analysts expect that Propel will post 5.2716469 earnings per share for the current year.

Propel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 16th were issued a $0.14 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.56 annualized dividend and a yield of 1.78%. Propel’s dividend payout ratio (DPR) is presently 39.72%.

About Propel

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.