Propel (TSE:PRL) Sets New 52-Week Low – Here’s Why

Shares of Propel Holdings Inc. (TSE:PRL) hit a new 52-week low on Monday . The company traded as low as $20.75 and last traded at $20.84, with a volume of 172860 shares changing hands. The stock had previously closed at $21.73.

Analyst Ratings Changes

A number of research firms have recently commented on PRL. Raymond James Financial lowered their price target on Propel from C$42.00 to C$35.00 in a report on Wednesday, November 5th. Scotiabank lowered their target price on Propel from C$40.00 to C$38.00 in a research note on Wednesday, November 5th. Finally, Ventum Financial dropped their target price on shares of Propel from C$42.00 to C$40.00 in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Propel currently has an average rating of “Buy”.

Propel Price Performance

The business’s fifty day moving average price is $27.45 and its 200 day moving average price is $31.82. The company has a market cap of $812.66 million, a price-to-earnings ratio of 13.24 and a beta of 1.07.

Propel Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, November 14th. Propel’s payout ratio is presently 31.67%.

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.