Propel (TSE:PRL) Upgraded by Canaccord Genuity Group to Strong-Buy

Propel (TSE:PRL) was upgraded by investment analysts at Canaccord Genuity Group to a “strong-buy” rating in a note issued to investors on Friday, Zacks.com reports.

Separately, Scotiabank upgraded shares of Propel from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$28.00 to C$34.00 in a research note on Friday.

Propel Stock Performance

TSE:PRL opened at $30.50 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 21.63 and a beta of 1.81. Propel has a 52 week low of $7.07 and a 52 week high of $32.55. The firm has a 50-day moving average price of $27.68 and a two-hundred day moving average price of $21.54.

Propel (TSE:PRL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. Propel had a net margin of 10.17% and a return on equity of 36.84%. The company had revenue of $146.06 million during the quarter, compared to analyst estimates of $137.00 million. As a group, sell-side analysts forecast that Propel will post 5.2716469 earnings per share for the current year.

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.