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

PROG (NYSE:PRG) announced its quarterly earnings data on Wednesday. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03, Zacks reports. The firm had revenue of $623.30 million during the quarter, compared to analyst estimates of $612.67 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share.

PROG Stock Down 0.2 %

PRG traded down $0.08 during trading on Thursday, hitting $30.50. The company had a trading volume of 99,237 shares, compared to its average volume of 391,095. The company has a market capitalization of $1.27 billion, a PE ratio of 8.47 and a beta of 2.18. PROG has a one year low of $27.84 and a one year high of $50.28. The firm’s 50-day moving average price is $42.39 and its 200 day moving average price is $44.98. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94.

Analysts Set New Price Targets

A number of analysts recently commented on PRG shares. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Thursday, October 24th. TD Cowen upgraded PROG to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Stephens restated an “overweight” rating and set a $60.00 target price on shares of PROG in a research report on Thursday, January 2nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PROG presently has a consensus rating of “Buy” and an average target price of $53.83.

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.