PROG (NYSE:PRG) Issues Earnings Results

PROG (NYSE:PRG) issued its quarterly earnings results on Wednesday. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03, Zacks reports. The firm had revenue of $623.30 million for the quarter, compared to analysts’ expectations of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. PROG’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share.

PROG Stock Performance

NYSE PRG opened at $29.95 on Friday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 6.58 and a beta of 2.18. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $42.03 and a 200 day simple moving average of $44.87. PROG has a twelve month low of $27.84 and a twelve month high of $50.28.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen raised shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of PROG in a research report on Thursday, January 2nd. Finally, Raymond James raised PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $53.83.

About PROG

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.