Propel (TSE:PRL) Posts Earnings Results, Misses Expectations By $0.18 EPS

Propel (TSE:PRL) released its quarterly earnings results on Monday. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.18), FiscalAI reports. The business had revenue of $166.07 million for the quarter, compared to the consensus estimate of $228.56 million. Propel had a net margin of 10.05% and a return on equity of 23.69%.

Propel Price Performance

Shares of PRL traded up $0.49 during mid-day trading on Monday, hitting $21.90. The company’s stock had a trading volume of 206,886 shares, compared to its average volume of 281,043. The firm has a 50-day moving average price of $20.04 and a 200 day moving average price of $22.74. Propel has a fifty-two week low of $17.24 and a fifty-two week high of $39.15. The stock has a market capitalization of $862.05 million, a price-to-earnings ratio of 15.53 and a beta of 0.56.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, March 4th were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.90 annualized dividend and a dividend yield of 4.1%. This is an increase from Propel’s previous quarterly dividend of $0.21. Propel’s dividend payout ratio is presently 38.09%.

Wall Street Analysts Forecast Growth

PRL has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on Propel from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Canaccord Genuity Group reduced their price target on Propel from C$37.00 to C$27.00 in a research report on Wednesday, March 4th. ATB Cormark Capital Markets lowered their price target on Propel from C$38.00 to C$27.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Scotiabank cut shares of Propel from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from C$35.00 to C$27.00 in a research note on Tuesday, April 28th. Finally, Raymond James Financial reduced their price objective on shares of Propel from C$45.00 to C$32.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Propel presently has a consensus rating of “Moderate Buy”.

About Propel

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).