FY2024 Earnings Forecast for Propel Issued By Scotiabank

Propel Holdings Inc. (TSE:PRL) – Investment analysts at Scotiabank dropped their FY2024 earnings per share (EPS) estimates for shares of Propel in a report released on Wednesday, January 8th. Scotiabank analyst P. Hardie now anticipates that the company will post earnings per share of $1.62 for the year, down from their previous estimate of $1.99. Scotiabank has a “Hold” rating on the stock. The consensus estimate for Propel’s current full-year earnings is $5.39 per share. Scotiabank also issued estimates for Propel’s FY2026 earnings at $3.17 EPS.

A number of other brokerages also recently issued reports on PRL. Eight Capital boosted their price target on Propel from C$38.00 to C$45.00 in a report on Friday, November 8th. Ventum Financial set a C$38.00 price target on shares of Propel and gave the stock a “buy” rating in a report on Wednesday, October 9th. Ventum Cap Mkts upgraded shares of Propel to a “strong-buy” rating in a research report on Tuesday, October 8th. Raymond James upped their price objective on shares of Propel from C$40.00 to C$47.00 in a research report on Monday, November 18th. Finally, Stephens raised shares of Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Propel presently has a consensus rating of “Buy” and a consensus price target of $41.00.

Propel Stock Down 5.0 %

Shares of PRL opened at $35.36 on Monday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 24.73 and a beta of 1.75. Propel has a 52 week low of $12.34 and a 52 week high of $40.88. The business has a 50-day moving average of $37.01.

Propel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, December 4th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, November 15th. This is a positive change from Propel’s previous quarterly dividend of $0.14. Propel’s payout ratio is presently 39.16%.

Insiders Place Their Bets

In related news, Senior Officer Cindy Usprech sold 859 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $38.30, for a total transaction of $32,899.70. Also, Senior Officer Jonathan Ari Goler sold 5,200 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $38.30, for a total value of $199,160.00. Over the last ninety days, insiders sold 60,459 shares of company stock worth $2,241,343. Company insiders own 33.31% of the company’s stock.

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.