PROG Holdings, Inc. (NYSE:PRG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of PROG Holdings, Inc. (NYSE:PRG) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $47.20.

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

PROG Price Performance

NYSE PRG opened at $46.35 on Friday. The business’s fifty day moving average is $41.79 and its two-hundred day moving average is $36.76. The stock has a market capitalization of $1.96 billion, a P/E ratio of 18.92 and a beta of 2.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87. PROG has a 1 year low of $26.39 and a 1 year high of $47.85.

PROG (NYSE:PRG) last issued its 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. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company had revenue of $592.16 million for the quarter, compared to the consensus estimate of $573.23 million. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts forecast that PROG will post 3.34 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 1.04%. PROG’s dividend payout ratio (DPR) is currently 19.59%.

Institutional Investors Weigh In On PROG

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new stake in PROG in the 2nd quarter worth approximately $47,000. DekaBank Deutsche Girozentrale bought a new position in PROG during the first quarter valued at $59,000. Blue Trust Inc. lifted its stake in PROG by 2,015.1% in the second quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after purchasing an additional 1,874 shares during the last quarter. nVerses Capital LLC purchased a new position in PROG during the 2nd quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PROG in the second quarter worth about $88,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Company Profile

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.