PROG (NYSE:PRG – Get Free Report) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.70-$0.80 for the period, compared to the consensus earnings per share estimate of $0.74. The company issued revenue guidance of $599.8-$619.8 million, compared to the consensus revenue estimate of $604.47 million. PROG also updated its FY 2024 guidance to 3.300-3.400 EPS.
PROG Trading Down 1.5 %
PROG stock traded down $0.64 during trading hours on Friday, reaching $42.26. 53,952 shares of the company’s stock were exchanged, compared to its average volume of 410,004. The firm’s 50 day simple moving average is $47.00 and its 200 day simple moving average is $39.76. PROG has a twelve month low of $26.39 and a twelve month high of $50.28. The company has a quick ratio of 1.80, a current ratio of 3.87 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $1.82 billion, a PE ratio of 17.52 and a beta of 2.11.
PROG (NYSE:PRG – Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. During the same quarter last year, the firm posted $0.90 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Research analysts predict that PROG will post 3.34 earnings per share for the current year.
PROG Dividend Announcement
Wall Street Analysts Forecast Growth
PRG has been the subject of a number of research reports. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Thursday. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and raised their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. TD Cowen boosted their price target on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group upped their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, KeyCorp lifted their price target on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.
Check Out Our Latest Stock Analysis on PRG
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.
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