PROG (PRG) to Release Earnings on Wednesday

PROG (NYSE:PRG) is expected to be posting its quarterly earnings results before the market opens on Wednesday, April 23rd. Analysts expect PROG to post earnings of $0.82 per share and revenue of $678.23 million for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $623.30 million during the quarter, compared to analyst estimates of $612.67 million. During the same quarter in the previous year, the firm earned $0.72 EPS. PROG’s revenue was up 7.9% on a year-over-year basis. On average, analysts expect PROG to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

PROG Stock Up 0.7 %

PRG opened at $25.68 on Wednesday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 5.66 and a beta of 1.96. The firm has a 50 day moving average price of $29.59 and a 200-day moving average price of $39.72. PROG has a twelve month low of $23.50 and a twelve month high of $50.28. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99.

PROG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were issued a $0.13 dividend. This is an increase from PROG’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 2.03%. PROG’s dividend payout ratio is currently 10.57%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of PROG from a “buy” rating to a “hold” rating and decreased their price target for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. Stephens reaffirmed an “overweight” rating and issued a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Insider Transactions at PROG

In other news, Director Douglas C. Curling purchased 10,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $29.88 per share, with a total value of $298,800.00. Following the completion of the transaction, the director now owns 45,913 shares in the company, valued at $1,371,880.44. This represents a 27.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Caroline Sio-Chin Sheu bought 1,650 shares of the stock in a transaction on Wednesday, February 26th. The stock was purchased at an average price of $28.01 per share, with a total value of $46,216.50. Following the completion of the purchase, the director now owns 18,291 shares of the company’s stock, valued at $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.74% 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.