PROG (PRG) Scheduled to Post Quarterly Earnings on Wednesday

PROG (NYSE:PRG) is set to post its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect PROG to post earnings of $0.82 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. PROG had a net margin of 5.77% and a return on equity of 28.83%. The firm had revenue of $577.40 million for the quarter, compared to the consensus estimate of $568.35 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. On average, analysts expect PROG to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

PROG Stock Performance

Shares of PRG opened at $31.50 on Wednesday. The company’s 50 day moving average price is $32.28 and its 200 day moving average price is $30.60. PROG has a 52 week low of $24.28 and a 52 week high of $44.81. The company has a market capitalization of $1.38 billion, a PE ratio of 10.64 and a beta of 2.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.49 and a current ratio of 3.66.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s dividend payout ratio (DPR) is presently 16.22%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. TD Cowen assumed coverage on shares of PROG in a research note on Friday, March 8th. They issued an “outperform” rating and a $37.00 target price for the company. Stephens upgraded shares of PROG from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

Institutional Trading of PROG

A number of institutional investors and hedge funds have recently modified their holdings of PRG. US Bancorp DE raised its stake in PROG by 561.0% during the 4th quarter. US Bancorp DE now owns 7,575 shares of the company’s stock valued at $234,000 after purchasing an additional 6,429 shares during the last quarter. XTX Topco Ltd acquired a new position in PROG during the 1st quarter valued at $228,000. Algert Global LLC acquired a new position in PROG during the 3rd quarter valued at $227,000. Renaissance Technologies LLC acquired a new position in PROG during the 3rd quarter valued at $226,000. Finally, Envestnet Asset Management Inc. raised its stake in PROG by 58.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,029 shares of the company’s stock valued at $193,000 after purchasing an additional 8,134 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

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.