PROG Holdings, Inc. (NYSE:PRG) Expected to Earn Q2 2022 Earnings of $0.74 Per Share

PROG Holdings, Inc. (NYSE:PRG – Get Rating) – Equities researchers at Jefferies Financial Group lowered their Q2 2022 earnings estimates for shares of PROG in a report issued on Wednesday, April 27th. Jefferies Financial Group analyst K. Joseph now anticipates that the company will post earnings per share of $0.74 for the quarter, down from their previous estimate of $0.86. Jefferies Financial Group also issued estimates for PROG’s Q4 2022 earnings at $1.08 EPS, FY2022 earnings at $3.34 EPS, Q1 2023 earnings at $0.83 EPS, Q2 2023 earnings at $0.98 EPS and FY2023 earnings at $4.00 EPS.

PROG (NYSE:PRG – Get Rating) last issued its earnings results on Wednesday, April 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.19). The firm had revenue of $710.46 million during the quarter, compared to the consensus estimate of $719.20 million. PROG had a return on equity of 27.16% and a net margin of 9.10%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share.

Other equities research analysts have also recently issued research reports about the stock. TheStreet cut shares of PROG from a “b-” rating to a “c+” rating in a research report on Monday, February 7th. KeyCorp decreased their target price on shares of PROG from $64.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, February 24th. Zacks Investment Research downgraded shares of PROG from a “hold” rating to a “sell” rating in a report on Thursday, February 10th. Finally, Raymond James reduced their price objective on PROG from $55.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.33.

Shares of PRG opened at $27.70 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.46 and a quick ratio of 1.28. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.96. PROG has a 1 year low of $24.38 and a 1 year high of $56.73. The business’s 50 day simple moving average is $28.81 and its 200-day simple moving average is $38.36.

Large investors have recently modified their holdings of the company. Life Planning Partners Inc purchased a new stake in shares of PROG in the fourth quarter valued at approximately $31,000. Point72 Hong Kong Ltd bought a new position in shares of PROG during the 3rd quarter worth $39,000. Quadrant Capital Group LLC increased its stake in shares of PROG by 298.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock valued at $57,000 after buying an additional 940 shares during the period. JJJ Advisors Inc. raised its holdings in shares of PROG by 35.2% in the fourth quarter. JJJ Advisors Inc. now owns 1,499 shares of the company’s stock valued at $68,000 after acquiring an additional 390 shares in the last quarter. Finally, Okabena Investment Services Inc. purchased a new stake in PROG in the fourth quarter worth about $114,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

PROG Company Profile (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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