Propel (TSE:PRL) Price Target Raised to C$45.00

Propel (TSE:PRL) had its price target raised by Eight Capital from C$38.00 to C$45.00 in a research note published on Friday,BayStreet.CA reports.

A number of other research analysts have also weighed in on PRL. Raymond James raised their price objective on Propel from C$34.00 to C$40.00 in a report on Thursday. Ventum Financial set a C$38.00 price objective on Propel and gave the company a “buy” rating in a report on Wednesday, October 9th. Ventum Cap Mkts upgraded Propel to a “strong-buy” rating in a report on Tuesday, October 8th. Scotiabank raised Propel from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$28.00 to C$34.00 in a research note on Friday, October 4th. Finally, Canaccord Genuity Group raised Propel to a “strong-buy” rating in a research note on Friday, October 4th.

Propel Stock Performance

Shares of PRL stock opened at $39.74 on Friday. The stock’s fifty day moving average is $31.53 and its two-hundred day moving average is $25.07. The firm has a market capitalization of $1.37 billion, a P/E ratio of 27.79 and a beta of 1.75. Propel has a fifty-two week low of $8.19 and a fifty-two week high of $40.88.

Propel Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, December 4th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Propel’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.51%. Propel’s dividend payout ratio (DPR) is 39.16%.

About Propel

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.