PROG (NYSE:PRG) Issues FY22 Earnings Guidance

PROG (NYSE:PRGGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.25-$3.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.45. The company issued revenue guidance of $2.79-$2.90 billion, compared to the consensus revenue estimate of $2.81 billion.

PRG opened at $27.16 on Wednesday. The firm’s fifty day moving average is $29.20 and its two-hundred day moving average is $38.57. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.28 and a current ratio of 3.46. The firm has a market cap of $1.50 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 1.41 and a beta of 1.96. PROG has a twelve month low of $25.33 and a twelve month high of $56.73.

PROG (NYSE:PRGGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.02). PROG had a return on equity of 27.16% and a net margin of 9.10%. The firm had revenue of $646.54 million during the quarter, compared to analyst estimates of $659.75 million. During the same quarter last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts forecast that PROG will post 3.47 EPS for the current fiscal year.

A number of brokerages have recently commented on PRG. Zacks Investment Research downgraded shares of PROG from a hold rating to a sell rating in a research report on Thursday, February 10th. KeyCorp dropped their price objective on shares of PROG from $64.00 to $55.00 and set an overweight rating for the company in a research note on Thursday, February 24th. TheStreet lowered shares of PROG from a b- rating to a c+ rating in a report on Monday, February 7th. Finally, Raymond James decreased their target price on shares of PROG from $55.00 to $42.00 and set an outperform rating on the stock in a report on Thursday, February 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PROG has an average rating of Hold and an average target price of $51.00.

A number of institutional investors and hedge funds have recently bought and sold shares of PRG. Vident Investment Advisory LLC lifted its position in shares of PROG by 4.1% during the 4th quarter. Vident Investment Advisory LLC now owns 37,856 shares of the company’s stock valued at $1,707,000 after acquiring an additional 1,496 shares during the period. LPL Financial LLC grew its stake in shares of PROG by 23.0% in the 3rd quarter. LPL Financial LLC now owns 14,035 shares of the company’s stock worth $590,000 after acquiring an additional 2,626 shares in the last quarter. Jane Street Group LLC grew its position in PROG by 53.7% during the third quarter. Jane Street Group LLC now owns 12,837 shares of the company’s stock valued at $539,000 after buying an additional 4,487 shares during the period. Janus Henderson Group PLC bought a new position in PROG during the third quarter valued at about $285,000. Finally, Squarepoint Ops LLC bought a new position in PROG during the fourth quarter valued at about $381,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

About PROG (Get Rating)

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.

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Earnings History and Estimates for PROG (NYSE:PRG)

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