Propel (TSE:PRL) Hits New 1-Year Low – Here’s What Happened

Propel Holdings Inc. (TSE:PRL) shares hit a new 52-week low on Friday . The company traded as low as $17.24 and last traded at $17.40, with a volume of 208606 shares changing hands. The stock had previously closed at $18.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PRL shares. Stifel Nicolaus lowered their price objective on shares of Propel from C$38.00 to C$32.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Raymond James Financial reduced their target price on shares of Propel from C$45.00 to C$32.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Canaccord Genuity Group lowered their target price on Propel from C$37.00 to C$27.00 in a report on Wednesday, March 4th. Ventum Financial dropped their price target on Propel from C$4.00 to C$3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, ATB Cormark Capital Markets cut their price target on Propel from C$38.00 to C$27.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Propel Price Performance

The firm has a market cap of $686.49 million, a P/E ratio of 12.37 and a beta of 0.35. The business’s 50-day moving average is $22.55 and its two-hundred day moving average is $25.05.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.225 per share. The ex-dividend date was Friday, February 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.2%. This is a positive change from Propel’s previous quarterly dividend of $0.21. Propel’s dividend payout ratio (DPR) is currently 38.09%.

Propel Company Profile

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).