PROG (NYSE:PRG – Get Free Report) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.65-0.75 for the period, compared to the consensus earnings per share estimate of $0.69. The company issued revenue guidance of $550-575 million, compared to the consensus revenue estimate of $565.93 million. PROG also updated its FY 2024 guidance to 2.850-3.100 EPS.
PROG Stock Performance
PRG traded down $0.81 during trading on Friday, hitting $34.11. 83,136 shares of the company traded hands, compared to its average volume of 392,642. The firm has a market cap of $1.49 billion, a P/E ratio of 14.25 and a beta of 2.08. The stock’s fifty day moving average is $32.30 and its 200 day moving average is $30.70. The company has a quick ratio of 1.49, a current ratio of 3.91 and a debt-to-equity ratio of 1.01. PROG has a one year low of $26.39 and a one year high of $44.81.
PROG (NYSE:PRG – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. The company had revenue of $641.87 million during the quarter, compared to analyst estimates of $632.24 million. PROG had a net margin of 4.71% and a return on equity of 26.67%. As a group, equities analysts predict that PROG will post 2.86 EPS for the current fiscal year.
PROG Dividend Announcement
Wall Street Analyst Weigh In
PRG has been the topic of several recent research reports. Loop Capital upped their price objective on shares of PROG from $31.00 to $35.00 and gave the company a hold rating in a report on Thursday. Stephens raised shares of PROG from an equal weight rating to an overweight rating in a report on Tuesday, January 2nd. Finally, TD Cowen upped their price objective on shares of PROG from $38.00 to $40.00 and gave the company a buy rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PROG currently has a consensus rating of Moderate Buy and an average price target of $39.60.
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.
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