PROG (NYSE:PRG – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.650-0.750 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of $550.0 million-$575.0 million, compared to the consensus revenue estimate of $565.9 million. PROG also updated its FY 2024 guidance to 2.850-3.100 EPS.
Analysts Set New Price Targets
PRG has been the topic of a number of recent analyst reports. TD Cowen increased their target price on shares of PROG from $38.00 to $40.00 and gave the company a buy rating in a research report on Thursday. Loop Capital raised their target price on shares of PROG from $31.00 to $35.00 and gave the stock a hold rating in a research note on Thursday. Finally, Stephens upgraded shares of PROG from an equal weight rating to an overweight rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $39.60.
Read Our Latest Research Report on PRG
PROG Stock Down 2.3 %
PROG (NYSE:PRG – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $641.87 million during the quarter, compared to analyst estimates of $632.24 million. PROG had a net margin of 4.71% and a return on equity of 26.67%. Equities research analysts expect that PROG will post 2.86 earnings per share for the current fiscal year.
PROG Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s dividend payout ratio is presently 19.59%.
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.
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