PRA Group, Inc. Forecasted to Earn Q4 2017 Earnings of $0.37 Per Share (PRAA)
PRA Group, Inc. (NASDAQ:PRAA) – Research analysts at William Blair increased their Q4 2017 earnings per share estimates for shares of PRA Group in a report released on Thursday. William Blair analyst R. Napoli now anticipates that the business services provider will post earnings per share of $0.37 for the quarter, up from their prior forecast of $0.36. William Blair also issued estimates for PRA Group’s Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.51 EPS, FY2018 earnings at $1.85 EPS and FY2019 earnings at $2.68 EPS.
PRA Group (NASDAQ:PRAA) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). PRA Group had a return on equity of 2.98% and a net margin of 7.57%. The business had revenue of $201.00 million for the quarter, compared to the consensus estimate of $196.96 million. During the same period in the previous year, the company posted $0.68 earnings per share. PRA Group’s revenue for the quarter was down 9.5% compared to the same quarter last year.
Other analysts have also recently issued reports about the company. BidaskClub cut PRA Group from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Janney Montgomery Scott raised PRA Group from a “sell” rating to a “neutral” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods cut PRA Group from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $36.00 to $40.00 in a research note on Tuesday, October 10th. Citigroup Inc. cut PRA Group to an “underperform” rating in a research note on Thursday, September 21st. Finally, Raymond James Financial, Inc. reissued an “underperform” rating on shares of PRA Group in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. PRA Group presently has an average rating of “Hold” and an average price target of $40.00.
Shares of PRA Group (NASDAQ:PRAA) opened at $33.40 on Monday. PRA Group has a 52 week low of $25.72 and a 52 week high of $42.70. The stock has a market capitalization of $1,515.42, a P/E ratio of 52.42 and a beta of 1.51.
A number of hedge funds and other institutional investors have recently bought and sold shares of PRAA. BlackRock Inc. increased its stake in PRA Group by 53,101.9% during the 1st quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock worth $199,134,000 after purchasing an additional 5,995,740 shares in the last quarter. Investment Counselors of Maryland LLC boosted its position in PRA Group by 376.4% during the 3rd quarter. Investment Counselors of Maryland LLC now owns 617,790 shares of the business services provider’s stock worth $17,700,000 after acquiring an additional 488,114 shares during the last quarter. Vanguard Group Inc. boosted its position in PRA Group by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock worth $138,779,000 after acquiring an additional 360,823 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in PRA Group by 14.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,744,664 shares of the business services provider’s stock worth $66,123,000 after acquiring an additional 218,409 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in PRA Group by 3,110.4% during the 2nd quarter. Bank of Montreal Can now owns 186,843 shares of the business services provider’s stock worth $7,081,000 after acquiring an additional 181,023 shares during the last quarter.
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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