Raymond James Brokers Decrease Earnings Estimates for Propel

Propel Holdings Inc. (TSE:PRL) – Stock analysts at Raymond James dropped their FY2024 earnings estimates for shares of Propel in a note issued to investors on Wednesday, January 22nd. Raymond James analyst S. Boland now anticipates that the company will post earnings of $2.39 per share for the year, down from their prior forecast of $2.58. The consensus estimate for Propel’s current full-year earnings is $5.39 per share. Raymond James also issued estimates for Propel’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.90 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.54 EPS and FY2026 earnings at $5.15 EPS.

Propel (TSE:PRL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.19). Propel had a return on equity of 36.84% and a net margin of 10.17%.

PRL has been the subject of a number of other reports. Canaccord Genuity Group raised shares of Propel to a “strong-buy” rating in a research note on Friday, October 4th. Eight Capital upped their price target on shares of Propel from C$38.00 to C$45.00 in a research report on Friday, November 8th. Stephens raised shares of Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. Scotiabank downgraded shares of Propel from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Ventum Financial set a C$38.00 target price on Propel and gave the stock a “buy” rating in a research report on Wednesday, October 9th. 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 stock. According to data from MarketBeat, Propel presently has an average rating of “Buy” and a consensus price target of $41.00.

Propel Stock Down 7.7 %

TSE:PRL opened at $38.96 on Monday. The stock has a fifty day simple moving average of $36.97 and a 200 day simple moving average of $32.00. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 27.24 and a beta of 1.75. Propel has a 1-year low of $14.97 and a 1-year high of $43.36.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, December 4th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, November 15th. 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 related news, Senior Officer Noah Buchman sold 18,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $37.40, for a total transaction of $703,120.00. Also, Senior Officer Cindy Usprech sold 5,600 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $36.13, for a total transaction of $202,345.92. Insiders sold a total of 60,459 shares of company stock worth $2,241,343 in the last quarter. 33.31% of the stock is currently owned by corporate insiders.

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.