Analysts Offer Predictions for Priority Technology Holdings, Inc.’s Q2 2022 Earnings (NASDAQ:PRTH)

Priority Technology Holdings, Inc. (NASDAQ:PRTHGet Rating) – Equities researchers at B. Riley cut their Q2 2022 earnings estimates for Priority Technology in a research note issued to investors on Monday, May 16th. B. Riley analyst S. Moss now expects that the company will post earnings of ($0.07) per share for the quarter, down from their prior estimate of ($0.04). B. Riley has a “Buy” rating on the stock. B. Riley also issued estimates for Priority Technology’s Q3 2022 earnings at ($0.06) EPS and FY2022 earnings at ($0.27) EPS.

Priority Technology (NASDAQ:PRTHGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). Priority Technology had a negative net margin of 0.37% and a negative return on equity of 0.27%. The business had revenue of $153.24 million during the quarter, compared to analyst estimates of $151.54 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share.

Separately, Zacks Investment Research cut Priority Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, March 23rd.

PRTH opened at $4.75 on Thursday. Priority Technology has a one year low of $4.32 and a one year high of $8.38. The stock has a market capitalization of $369.24 million, a PE ratio of -10.80 and a beta of 0.63. The business’s 50 day moving average price is $5.29 and its 200 day moving average price is $5.84.

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Priority Technology by 14.3% during the third quarter. Bank of New York Mellon Corp now owns 17,626 shares of the company’s stock worth $118,000 after purchasing an additional 2,205 shares in the last quarter. Barclays PLC lifted its stake in Priority Technology by 223.1% during the third quarter. Barclays PLC now owns 4,078 shares of the company’s stock worth $27,000 after purchasing an additional 2,816 shares in the last quarter. UBS Group AG lifted its stake in Priority Technology by 68.2% during the first quarter. UBS Group AG now owns 7,184 shares of the company’s stock worth $42,000 after purchasing an additional 2,913 shares in the last quarter. State Street Corp increased its position in shares of Priority Technology by 3.6% during the first quarter. State Street Corp now owns 132,886 shares of the company’s stock worth $764,000 after acquiring an additional 4,648 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Priority Technology by 260.8% during the fourth quarter. Bank of America Corp DE now owns 8,064 shares of the company’s stock worth $57,000 after acquiring an additional 5,829 shares during the period. Institutional investors own 12.97% of the company’s stock.

Priority Technology Company Profile (Get Rating)

Priority Technology Holdings, Inc operates as a payment technology company in the United States. It operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business Payments, and Enterprise Payments. The company offers MX product line, including MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing as our leverage point.

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Earnings History and Estimates for Priority Technology (NASDAQ:PRTH)

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