Ventum Cap Mkts Estimates Propel’s FY2024 Earnings (TSE:PRL)

Propel Holdings Inc. (TSE:PRL) – Equities researchers at Ventum Cap Mkts upped their FY2024 EPS estimates for shares of Propel in a note issued to investors on Wednesday, February 12th. Ventum Cap Mkts analyst R. Goff now expects that the company will post earnings per share of $2.07 for the year, up from their prior forecast of $2.02. The consensus estimate for Propel’s current full-year earnings is $5.39 per share. Ventum Cap Mkts also issued estimates for Propel’s FY2024 earnings at $2.07 EPS, Q1 2025 earnings at $0.76 EPS, Q3 2025 earnings at $0.79 EPS, FY2025 earnings at $3.33 EPS, FY2025 earnings at $3.33 EPS, FY2026 earnings at $4.25 EPS, FY2026 earnings at $4.25 EPS and FY2027 earnings at $5.16 EPS.

A number of other research analysts have also weighed in on PRL. Stephens upgraded Propel to a “strong-buy” rating in a report on Wednesday, November 13th. Raymond James raised their price objective on Propel from C$40.00 to C$47.00 in a report on Monday, November 18th. Eight Capital raised their price objective on Propel from C$38.00 to C$45.00 in a report on Friday, November 8th. Finally, Scotiabank lowered Propel from a “strong-buy” rating to a “hold” rating in a 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 issued a strong buy rating to the stock. According to MarketBeat, Propel has a consensus rating of “Buy” and an average target price of $41.00.

Propel Stock Performance

Propel stock opened at $35.76 on Monday. The company’s fifty day moving average price is $37.00 and its 200 day moving average price is $33.49. Propel has a 1 year low of $14.97 and a 1 year high of $43.36. The stock has a market capitalization of $995.59 million, a P/E ratio of 22.12 and a beta of 1.75.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Wednesday, March 5th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 7.38%. This is an increase from Propel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, February 19th. Propel’s dividend payout ratio (DPR) is presently 34.64%.

Insider Buying and Selling

In other news, Senior Officer Jonathan Ari Goler sold 5,200 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $38.30, for a total transaction of $199,160.00. Also, Senior Officer Noah Buchman sold 18,800 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $37.40, for a total value of $703,120.00. In the last ninety days, insiders sold 59,600 shares of company stock valued at $2,208,443. 33.31% of the stock is currently owned by insiders.

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.