PROG (PRG) to Release Earnings on Wednesday

PROG (NYSE:PRG) is set to announce its earnings results before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.22. The firm had revenue of $592.16 million for the quarter, compared to analysts’ expectations of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. 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 1.6 %

Shares of PROG stock opened at $48.80 on Wednesday. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. PROG has a 12-month low of $26.39 and a 12-month high of $50.28. The company has a market cap of $2.11 billion, a P/E ratio of 19.92 and a beta of 2.11. The company’s fifty day simple moving average is $46.20 and its two-hundred day simple moving average is $39.20.

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, August 20th. PROG’s dividend payout ratio is currently 19.59%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PRG. TD Cowen lifted their target price on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp boosted their target price on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.40.

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.