Brokerages Set PROG Holdings, Inc. (NYSE:PRG) PT at $47.20

PROG Holdings, Inc. (NYSE:PRG) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $47.20.

PRG has been the subject of a number of analyst reports. TD Cowen boosted their price target on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BTIG Research initiated coverage on PROG in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. Finally, KeyCorp lifted their price objective on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th.

PROG Trading Up 3.1 %

Shares of NYSE:PRG opened at $48.82 on Friday. The firm has a fifty day moving average of $42.66 and a two-hundred day moving average of $37.11. The company has a quick ratio of 1.80, a current ratio of 3.87 and a debt-to-equity ratio of 1.02. PROG has a 12-month low of $26.39 and a 12-month high of $49.09. The firm has a market capitalization of $2.11 billion, a P/E ratio of 19.93 and a beta of 2.11.

PROG (NYSE:PRG) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. The business had revenue of $592.16 million during the quarter, compared to analysts’ expectations of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS. On average, equities analysts expect that PROG will post 3.34 EPS for the current fiscal year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. PROG’s dividend payout ratio is currently 19.59%.

Hedge Funds Weigh In On PROG

Several institutional investors and hedge funds have recently made changes to their positions in PRG. Norges Bank bought a new position in shares of PROG during the 4th quarter valued at about $12,666,000. Breach Inlet Capital Management LLC bought a new position in PROG in the fourth quarter valued at approximately $12,572,000. Diversify Wealth Management LLC acquired a new position in shares of PROG in the second quarter valued at approximately $8,794,000. SG Capital Management LLC bought a new stake in shares of PROG during the first quarter worth $5,932,000. Finally, Fourth Sail Capital LP acquired a new stake in shares of PROG during the second quarter worth $5,500,000. Institutional investors and hedge funds 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.