Propel (TSE:PRL) Sets New 52-Week High – What’s Next?

Propel Holdings Inc. (TSE:PRL) hit a new 52-week high on Friday . The stock traded as high as $42.75 and last traded at $41.95, with a volume of 38576 shares traded. The stock had previously closed at $40.59.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Scotiabank cut Propel from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Canaccord Genuity Group raised Propel to a “strong-buy” rating in a research note on Friday, October 4th. Raymond James upped their target price on Propel from C$40.00 to C$47.00 in a research note on Monday, November 18th. Eight Capital upped their target price on Propel from C$38.00 to C$45.00 in a research note on Friday, November 8th. Finally, Ventum Financial set a C$38.00 target price on Propel and gave the company a “buy” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $41.00.

Propel Price Performance

The stock has a market cap of $1.45 billion, a PE ratio of 29.41 and a beta of 1.75. The business has a fifty day moving average of $36.79 and a 200-day moving average of $31.73.

Propel (TSE:PRL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Propel had a net margin of 10.17% and a return on equity of 36.84%. As a group, equities research analysts predict that Propel Holdings Inc. will post 5.3923205 EPS for the current year.

Propel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Propel’s previous quarterly dividend of $0.14. Propel’s dividend payout ratio is currently 39.16%.

Insiders Place Their Bets

In other news, Senior Officer Jonathan Ari Goler sold 5,200 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $38.30, for a total transaction of $199,160.00. Also, Senior Officer Cindy Usprech sold 5,600 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $36.13, for a total value of $202,345.92. Insiders sold a total of 60,459 shares of company stock worth $2,241,343 over the last 90 days. Company insiders own 33.31% of the company’s stock.

Propel Company Profile

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.