Scotiabank Has Pessimistic Outlook of Propel FY2024 Earnings

Propel Holdings Inc. (TSE:PRL) – Stock analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for shares of Propel in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Hardie now anticipates that the company will earn $1.62 per share for the year, down from their prior estimate of $1.99. Scotiabank currently has a “Hold” rating on the stock. The consensus estimate for Propel’s current full-year earnings is $5.39 per share. Scotiabank also issued estimates for Propel’s FY2026 earnings at $3.17 EPS.

A number of other research analysts also recently issued reports on the company. Ventum Financial set a C$38.00 price target on Propel and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Ventum Cap Mkts upgraded shares of Propel to a “strong-buy” rating in a research note on Tuesday, October 8th. Stephens raised shares of Propel to a “strong-buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised Propel to a “strong-buy” rating in a report on Friday, October 4th. Finally, Eight Capital boosted their target price on Propel from C$38.00 to C$45.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $41.00.

Propel Price Performance

Shares of PRL opened at $35.36 on Monday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 24.73 and a beta of 1.75. Propel has a 52-week low of $12.34 and a 52-week high of $40.88. The company has a 50 day simple moving average of $37.01.

Insiders Place Their Bets

In other Propel news, Senior Officer Cindy Usprech sold 5,600 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $36.13, for a total transaction of $202,345.92. Also, Director Clive Kinross sold 30,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $36.79, for a total transaction of $1,103,817.00. Over the last three months, insiders have sold 60,459 shares of company stock worth $2,241,343. 33.31% of the stock is owned by company insiders.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors 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 1.70%. This is an increase from Propel’s previous quarterly dividend of $0.14. Propel’s payout ratio is currently 39.16%.

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.