PRA Group, Inc. Expected to Earn FY2017 Earnings of $1.50 Per Share (PRAA)
PRA Group, Inc. (NASDAQ:PRAA) – Investment analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for shares of PRA Group in a note issued to investors on Tuesday. SunTrust Banks analyst M. Hughes now expects that the business services provider will earn $1.50 per share for the year, down from their prior forecast of $1.93. SunTrust Banks also issued estimates for PRA Group’s Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $1.75 EPS.
PRA Group (NASDAQ:PRAA) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.23. The firm had revenue of $200.30 million during the quarter, compared to analysts’ expectations of $208.97 million. PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 earnings per share.
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A number of other research analysts also recently issued reports on the company. BidaskClub raised PRA Group from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research downgraded PRA Group from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods assumed coverage on PRA Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.00.
PRA Group (NASDAQ PRAA) traded down 2.26% during midday trading on Friday, reaching $32.45. 116,127 shares of the company traded hands. The firm has a 50-day moving average of $38.26 and a 200-day moving average of $36.35. The stock has a market capitalization of $1.47 billion, a P/E ratio of 19.79 and a beta of 1.49. PRA Group has a 1-year low of $23.15 and a 1-year high of $42.70.
In other PRA Group news, Director Geir Olsen bought 142,000 shares of PRA Group stock in a transaction dated Tuesday, May 23rd. The stock was acquired at an average cost of $34.55 per share, with a total value of $4,906,100.00. Following the purchase, the director now directly owns 27,162 shares in the company, valued at approximately $938,447.10. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of PRA Group by 12.6% in the first quarter. Parkside Financial Bank & Trust now owns 3,243 shares of the business services provider’s stock valued at $107,000 after buying an additional 364 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PRA Group by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock valued at $107,000 after buying an additional 304 shares during the last quarter. Independence Advisors LLC acquired a new position in shares of PRA Group during the second quarter valued at $112,000. 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 valued at $117,000 after buying an additional 162 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of PRA Group during the first quarter valued at $125,000.
About PRA Group
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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