Raymond James Forecasts Strong Price Appreciation for Propel (TSE:PRL) Stock

Propel (TSE:PRL) had its price objective lifted by Raymond James from C$34.00 to C$40.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. Raymond James also issued estimates for Propel’s Q4 2024 earnings at $0.78 EPS, Q2 2025 earnings at $0.64 EPS and Q3 2025 earnings at $0.81 EPS.

Several other brokerages have also weighed in on PRL. Canaccord Genuity Group raised Propel to a “strong-buy” rating in a research report on Friday, October 4th. Ventum Cap Mkts upgraded Propel to a “strong-buy” rating in a research note on Tuesday, October 8th. Scotiabank upgraded Propel from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$28.00 to C$34.00 in a research note on Friday, October 4th. Finally, 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.

Propel Stock Performance

Shares of TSE PRL opened at $39.74 on Thursday. Propel has a fifty-two week low of $8.19 and a fifty-two week high of $40.88. The firm has a market capitalization of $1.37 billion, a PE ratio of 27.79 and a beta of 1.75. The stock’s 50-day simple moving average is $31.53 and its 200-day simple moving average is $25.07.

Propel (TSE:PRL) last issued its earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Propel had a return on equity of 36.84% and a net margin of 10.17%. The business had revenue of $146.06 million for the quarter, compared to analyst estimates of $137.00 million. On average, sell-side analysts forecast that Propel will post 5.3923205 earnings per share for the current fiscal year.

Propel Increases Dividend

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