PROG (NYSE:PRG) Trading Down 8.3% – What’s Next?

PROG Holdings, Inc (NYSE:PRG) fell 8.3% during trading on Wednesday . The company traded as low as $41.00 and last traded at $41.3440. 126,845 shares were traded during mid-day trading, a decline of 75% from the average session volume of 511,223 shares. The stock had previously closed at $45.08.

More PROG News

Here are the key news stories impacting PROG this week:

• Positive Sentiment: Q2 earnings and revenue beat estimates: PROG reported adjusted earnings of $1.19 per share, above the $0.95-$0.96 consensus, while revenue of $719.72 million also exceeded expectations. Earnings increased from $1.02 per share a year earlier, supporting confidence in operating momentum. PROG Holdings Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Full-year outlook raised: Management issued 2026 EPS guidance of $4.75-$5.00, above the prior consensus estimate of $4.66, alongside revenue guidance of approximately $3.0-$3.1 billion. The improved outlook indicates that management expects continued growth across its portfolio. PROG Holdings Reports Second Quarter 2026 Results
• Positive Sentiment: Growth across multiple businesses: The earnings call highlighted ecosystem expansion in Progressive Leasing, Four Technologies and Purchasing Power. The inclusion of Purchasing Power, acquired in January, is also contributing to the company’s broader growth profile. PRG Q2 Earnings Call Highlights
• Positive Sentiment: Analyst price targets moved higher: B. Riley raised its target from $57 to $64 and assigned a Buy rating, while KeyCorp increased its target from $45 to $50 and maintained an Overweight rating. These revisions reinforce the bullish reaction to the earnings report and imply further upside based on the analysts’ estimates.
• Neutral Sentiment: Near-term guidance is mixed: Third-quarter EPS guidance of $1.00-$1.20 brackets the $1.05 consensus, but revenue guidance of $715-$750 million has a midpoint below analysts’ $746.7 million estimate. This could limit enthusiasm if investors focus on the next quarter rather than the improved full-year outlook.

Analyst Ratings Changes

PRG has been the topic of a number of research reports. Wall Street Zen lowered PROG from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Zacks Research downgraded PROG from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Loop Capital cut PROG from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Wednesday, July 1st. Stephens lifted their target price on PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, TD Cowen boosted their target price on PROG from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.44.

PROG Price Performance

The company has a market cap of $1.73 billion, a price-to-earnings ratio of 11.95 and a beta of 1.78. The company’s 50 day moving average price is $40.98 and its 200 day moving average price is $35.38. The company has a current ratio of 4.03, a quick ratio of 2.41 and a debt-to-equity ratio of 1.10.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. The business had revenue of $719.72 million for the quarter, compared to analyst estimates of $713.50 million. PROG had a net margin of 5.57% and a return on equity of 21.88%. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. Equities research analysts forecast that PROG Holdings, Inc will post 4.7 earnings per share for the current year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.56 annualized dividend and a yield of 1.3%. PROG’s payout ratio is presently 15.30%.

Institutional Trading of PROG

Several hedge funds have recently modified their holdings of the business. Quarry LP grew its holdings in PROG by 82.8% during the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock worth $33,000 after acquiring an additional 506 shares during the period. Global Assets Advisory LLC purchased a new position in PROG in the first quarter worth $38,000. Federation des caisses Desjardins du Quebec acquired a new stake in PROG in the fourth quarter valued at $44,000. WealthCollab LLC boosted its position in shares of PROG by 61.9% during the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock worth $61,000 after purchasing an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of PROG by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company’s stock worth $136,000 after purchasing an additional 468 shares in the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Company Profile

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.