Raymond James Comments on Propel’s FY2024 Earnings (TSE:PRL)

Propel Holdings Inc. (TSE:PRL) – Equities researchers at Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of Propel in a report issued on Wednesday, January 22nd. Raymond James analyst S. Boland now expects that the company will earn $2.39 per share for the year, down from their prior forecast of $2.58. The consensus estimate for Propel’s current full-year earnings is $5.39 per share. Raymond James also issued estimates for Propel’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.90 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.54 EPS and FY2026 earnings at $5.15 EPS.

Propel (TSE:PRL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Propel had a return on equity of 36.84% and a net margin of 10.17%.

Other analysts also recently issued research reports about the company. Stephens raised Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. Ventum Cap Mkts upgraded Propel to a “strong-buy” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group upgraded shares of Propel to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank lowered shares of Propel from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Ventum Financial set a C$38.00 price objective on shares of Propel and gave the company a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Propel currently has a consensus rating of “Buy” and an average target price of $41.00.

Propel Stock Up 6.6 %

PRL stock opened at $41.55 on Monday. The firm’s 50-day simple moving average is $37.09 and its 200 day simple moving average is $32.07. The stock has a market cap of $1.43 billion, a PE ratio of 29.06 and a beta of 1.75. Propel has a fifty-two week low of $14.97 and a fifty-two week high of $43.36.

Insider Activity at Propel

In other Propel news, Senior Officer Cindy Usprech sold 859 shares of Propel stock in a transaction on Monday, November 18th. The shares were sold at an average price of $38.30, for a total transaction of $32,899.70. Also, Director Clive Kinross sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $36.79, for a total transaction of $1,103,817.00. Insiders sold a total of 60,459 shares of company stock worth $2,241,343 in the last 90 days. 33.31% of the stock is owned by company insiders.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, December 4th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Propel’s previous quarterly dividend of $0.14. Propel’s payout ratio is currently 39.16%.

Propel Company Profile

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.