Analysts Issue Forecasts for PRA Group, Inc.’s Q3 2017 Earnings (PRAA)
PRA Group, Inc. (NASDAQ:PRAA) – Research analysts at SunTrust Banks decreased their Q3 2017 EPS estimates for shares of PRA Group in a research note issued on Tuesday. SunTrust Banks analyst M. Hughes now anticipates that the business services provider will post earnings per share of $0.37 for the quarter, down from their prior estimate of $0.49. SunTrust Banks also issued estimates for PRA Group’s Q4 2017 earnings at $0.44 EPS.
PRA Group (NASDAQ:PRAA) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.23. PRA Group had a return on equity of 4.75% and a net margin of 9.76%. The company had revenue of $200.30 million for the quarter, compared to analyst estimates of $208.97 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was down 12.3% compared to the same quarter last year.
Several other research firms also recently weighed in on PRAA. Zacks Investment Research raised shares of PRA Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub downgraded shares of PRA Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of PRA Group in a research report on Wednesday, May 24th. They set an “outperform” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $38.00.
PRA Group (NASDAQ PRAA) opened at 34.55 on Thursday. PRA Group has a 12 month low of $23.15 and a 12 month high of $42.70. The firm’s 50-day moving average is $38.33 and its 200 day moving average is $36.37. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 15.90 and a beta of 1.49.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its position in shares of PRA Group by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock worth $169,000 after buying an additional 90 shares during the last quarter. Huntington National Bank increased its position in shares of PRA Group by 5.5% in the second quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock worth $117,000 after buying an additional 162 shares during the last quarter. Bell Bank increased its position in shares of PRA Group by 3.0% in the first quarter. Bell Bank now owns 8,153 shares of the business services provider’s stock worth $270,000 after buying an additional 235 shares during the last quarter. Texas Permanent School Fund increased its position in shares of PRA Group by 0.8% in the second quarter. Texas Permanent School Fund now owns 33,836 shares of the business services provider’s stock worth $1,282,000 after buying an additional 283 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of PRA Group by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the business services provider’s stock worth $627,000 after buying an additional 300 shares during the last quarter.
In related news, Director Geir Olsen acquired 142,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were purchased at an average cost of $34.55 per share, with a total value of $4,906,100.00. Following the completion of the transaction, the director now owns 27,162 shares of the company’s stock, valued at approximately $938,447.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.
PRA Group Company Profile
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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