PRA Group, Inc. (NASDAQ:PRAA) to Post Q1 2023 Earnings of $0.41 Per Share, Zacks Research Forecasts

PRA Group, Inc. (NASDAQ:PRAA – Get Rating) – Equities research analysts at Zacks Research raised their Q1 2023 earnings estimates for shares of PRA Group in a report issued on Monday, March 13th. Zacks Research analyst K. Dey now anticipates that the business services provider will post earnings per share of $0.41 for the quarter, up from their prior estimate of $0.38. The consensus estimate for PRA Group’s current full-year earnings is $1.96 per share. Zacks Research also issued estimates for PRA Group’s Q2 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.49 EPS, FY2023 earnings at $1.81 EPS, Q1 2024 earnings at $0.47 EPS, Q2 2024 earnings at $0.45 EPS, Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.94 EPS and FY2025 earnings at $1.99 EPS.

PRAA has been the topic of several other research reports. StockNews.com downgraded PRA Group from a “buy” rating to a “hold” rating in a report on Saturday, January 21st. TheStreet raised PRA Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 26th. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of PRA Group in a research report on Friday, March 10th.

PRA Group Trading Down 2.3 %

PRAA stock opened at $39.79 on Wednesday. The company has a market capitalization of $1.55 billion, a PE ratio of 13.63 and a beta of 1.18. PRA Group has a 12-month low of $29.68 and a 12-month high of $46.14. The business’s fifty day moving average price is $39.29 and its 200 day moving average price is $35.62.

PRA Group (NASDAQ:PRAA – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $222.85 million during the quarter, compared to analysts’ expectations of $219.13 million. PRA Group had a return on equity of 9.26% and a net margin of 12.12%. The company’s revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share.

Insiders Place Their Bets

In other news, Chairman Steven D. Fredrickson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $42.52, for a total value of $425,200.00. Following the completion of the sale, the chairman now directly owns 103,920 shares of the company’s stock, valued at approximately $4,418,678.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Steven D. Fredrickson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the sale, the chairman now directly owns 118,920 shares of the company’s stock, valued at approximately $4,756,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven D. Fredrickson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $42.52, for a total value of $425,200.00. Following the completion of the transaction, the chairman now directly owns 103,920 shares of the company’s stock, valued at $4,418,678.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,000 shares of company stock valued at $830,400. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On PRA Group

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in PRA Group by 10.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 40,809 shares of the business services provider’s stock valued at $1,484,000 after purchasing an additional 3,787 shares in the last quarter. Peregrine Capital Management LLC increased its stake in PRA Group by 14.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 269,894 shares of the business services provider’s stock valued at $8,869,000 after purchasing an additional 34,146 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in PRA Group by 54.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 19,111 shares in the last quarter. Global Alpha Capital Management Ltd. increased its stake in PRA Group by 13.7% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,083,302 shares of the business services provider’s stock valued at $35,597,000 after purchasing an additional 130,300 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in PRA Group by 16.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 7,754 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 1,071 shares in the last quarter.

PRA Group Company Profile

(Get Rating)

PRA Group, Inc engages in the purchase, collection and management of portfolios of nonperforming loans. The firm purchase portfolios of nonperforming loans at a discount in two broad categories: Core and Insolvency. It also provides fee-based services on class action claims recoveries and by servicing consumer bankruptcy accounts in the United States.