Q2 2022 EPS Estimates for PRA Group, Inc. (NASDAQ:PRAA) Lowered by William Blair

PRA Group, Inc. (NASDAQ:PRAAGet Rating) – Investment analysts at William Blair cut their Q2 2022 earnings per share (EPS) estimates for shares of PRA Group in a research note issued on Tuesday, May 10th. William Blair analyst R. Napoli now forecasts that the business services provider will post earnings per share of $0.59 for the quarter, down from their previous forecast of $0.71. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for PRA Group’s FY2022 earnings at $2.65 EPS and Q2 2023 earnings at $0.92 EPS.

PRA Group (NASDAQ:PRAAGet Rating) last issued its quarterly earnings data on Monday, May 9th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.23. The firm had revenue of $240.60 million during the quarter, compared to analysts’ expectations of $253.46 million. PRA Group had a net margin of 16.72% and a return on equity of 13.01%. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share.

PRAA has been the subject of several other research reports. JMP Securities reduced their price target on shares of PRA Group from $60.00 to $56.00 and set a “market outperform” rating for the company in a report on Tuesday, March 1st. StockNews.com cut shares of PRA Group from a “buy” rating to a “hold” rating in a report on Saturday, April 16th.

PRA Group stock opened at $39.12 on Wednesday. The stock has a market capitalization of $1.57 billion, a PE ratio of 9.68 and a beta of 1.28. PRA Group has a twelve month low of $36.82 and a twelve month high of $51.00. The company has a 50 day moving average of $44.03 and a 200-day moving average of $45.33.

A number of institutional investors have recently made changes to their positions in the business. Turtle Creek Asset Management Inc. grew its stake in PRA Group by 2.9% during the third quarter. Turtle Creek Asset Management Inc. now owns 2,733,668 shares of the business services provider’s stock worth $115,197,000 after buying an additional 76,700 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of PRA Group by 0.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,801,503 shares of the business services provider’s stock worth $90,453,000 after acquiring an additional 8,519 shares during the last quarter. State Street Corp lifted its holdings in shares of PRA Group by 7.1% in the fourth quarter. State Street Corp now owns 1,532,223 shares of the business services provider’s stock worth $76,933,000 after acquiring an additional 101,084 shares during the last quarter. abrdn plc lifted its holdings in shares of PRA Group by 8.9% in the first quarter. abrdn plc now owns 1,240,795 shares of the business services provider’s stock worth $55,935,000 after acquiring an additional 101,590 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of PRA Group by 46,947.3% in the third quarter. William Blair Investment Management LLC now owns 1,234,991 shares of the business services provider’s stock worth $52,043,000 after acquiring an additional 1,232,366 shares during the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

In other PRA Group news, CEO Kevin P. Stevenson sold 10,000 shares of the stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $44.89, for a total transaction of $448,900.00. Following the sale, the chief executive officer now directly owns 370,949 shares in the company, valued at $16,651,900.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin P. Stevenson sold 5,000 shares of the stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $43.56, for a total transaction of $217,800.00. Following the sale, the chief executive officer now owns 360,949 shares in the company, valued at $15,722,938.44. The disclosure for this sale can be found here. In the last three months, insiders sold 30,000 shares of company stock worth $1,329,950. 1.75% of the stock is currently owned by insiders.

About PRA Group (Get Rating)

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas, Australia, and Europe. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.

See Also

Earnings History and Estimates for PRA Group (NASDAQ:PRAA)

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