PROG Holdings, Inc. (NYSE:PRG – Get Rating) – Equity analysts at Jefferies Financial Group raised their earnings estimates for the third quarter of 2022 for shares of PROG in a report published on Wednesday, April 10th. Jefferies Financial Group analyst K. Joseph now expects the company to report earnings per share of $0.95 for the quarter, up from a previous forecast of $0.91. Jefferies Financial Group also released estimates for PROG’s third-quarter 2023 earnings of $1.12 per share and fourth-quarter 2023 earnings of $1.07 per share.
PROG (NYSE:PRG – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.57 per share for the quarter, missing analyst consensus estimates of $0.76 to ($0.19). PROG had a return on equity of 24.37% and a net margin of 7.17%. The company had revenue of $710.46 million for the quarter, compared to the consensus estimate of $719.20 million. In the same quarter last year, the company posted $1.22 per share. The company’s revenue fell 1.5% year over year in the quarter.
Other analysts have also recently issued research reports on the stock. TheStreet downgraded shares of PROG from a “b-” rating to a “c+” rating in a research note on Monday, February 7th. Zacks Investment Research upgraded PROG from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James lowered its price target on PROG to $42.00 from $55.00 and gave the company a Outperform rating in a research report on Thursday, February 24. Finally, KeyCorp lowered its price target on PROG shares to $55.00 from $64.00 and ranked the company as “overweight” in a research note on Thursday, February 24. Two equities research analysts have assigned a hold rating to the stock and two have assigned a buy rating to the company. According to MarketBeat, PROG currently has an average rating of Buy and an average price target of $51.33.
NYSE PRG opened at $26.47 on Monday. PROG has a 1-year low of $24.38 and a 1-year high of $56.73. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.43 and a beta of 1.96. The company has a current ratio of 3.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $28.62 and a 200-day moving average of $38.16.
Several institutional investors have recently changed their stock holdings. Life Planning Partners Inc acquired a new interest in PROG valued at approximately $31,000 during the fourth quarter. Point72 Hong Kong Ltd bought a new position in PROG valued at approximately $39,000 during the third quarter. Quadrant Capital Group LLC increased its stake in PROG by 298.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company, valued at $57,000, having purchased an additional 940 shares during the period. JJJ Advisors Inc. increased its stake in PROG by 35.2% in the fourth quarter. JJJ Advisors Inc. now owns 1,499 shares of the company, valued at $68,000, having purchased an additional 390 shares during the period. Finally, Icapital Wealth LLC bought a new position in PROG stock worth about $73,000 during the first quarter. Institutional investors own 92.19% of the company’s shares.
About PROG (received rating)
PROG Holdings, Inc (NYSE:PRG) is a Salt Lake City, Utah-based financial technology holding company with three business segments: Progressive Leasing, which provides lease-to-own transactions primarily to consumers with credit problems through e-commerce and point – of-sale retail partners via online, mobile and in-store solutions; Vive Financial, which makes a variety of second-glance revolving credit products available to consumers who may not qualify for traditional prime credit through storefront and branded credit cards; and Four Technologies, which offers consumers of all credit backgrounds BNPL (Buy Now, Pay Later) options through four interest-free installments through its Four platform.
Receive News & Reviews for PROG Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PROG and related companies with MarketBeat.com’s FREE daily email newsletter.