Jefferies Financial Group Weighs in on PROG Holdings, Inc.’s Q1 2023 Earnings (NYSE:PRG)

PROG Holdings, Inc. (NYSE:PRGGet Rating) – Research analysts at Jefferies Financial Group lifted their Q1 2023 earnings estimates for PROG in a note issued to investors on Wednesday, July 27th. Jefferies Financial Group analyst K. Joseph now expects that the company will post earnings per share of $0.82 for the quarter, up from their previous estimate of $0.70. The consensus estimate for PROG’s current full-year earnings is $2.51 per share.

A number of other research firms also recently commented on PRG. Raymond James downgraded PROG from an “outperform” rating to a “market perform” rating in a research report on Friday, June 17th. TheStreet lowered shares of PROG from a “c-” rating to a “d” rating in a research report on Thursday. Stephens set a $21.00 target price on shares of PROG in a report on Monday, June 20th. Finally, KeyCorp lowered their price target on shares of PROG from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday.

PROG Price Performance

Shares of PROG stock opened at $18.42 on Monday. The firm has a market cap of $995.47 million, a PE ratio of 6.22 and a beta of 2.05. The stock has a 50 day moving average of $20.75 and a 200 day moving average of $27.64. The company has a current ratio of 3.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.93. PROG has a 12 month low of $15.62 and a 12 month high of $50.79.

Hedge Funds Weigh In On PROG

Large investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of PROG during the first quarter valued at approximately $20,139,000. Goldman Sachs Group Inc. lifted its stake in shares of PROG by 395.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 826,050 shares of the company’s stock worth $23,765,000 after acquiring an additional 659,312 shares during the last quarter. Vulcan Value Partners LLC grew its position in PROG by 34.6% in the 4th quarter. Vulcan Value Partners LLC now owns 2,063,667 shares of the company’s stock valued at $93,092,000 after acquiring an additional 530,587 shares during the last quarter. Marshall Wace LLP increased its stake in PROG by 313.1% in the fourth quarter. Marshall Wace LLP now owns 350,096 shares of the company’s stock worth $15,793,000 after purchasing an additional 265,342 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in shares of PROG by 1,358.0% during the first quarter. Qube Research & Technologies Ltd now owns 274,453 shares of the company’s stock worth $7,896,000 after purchasing an additional 255,629 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

PROG Company Profile

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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.

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Earnings History and Estimates for PROG (NYSE:PRG)

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