Priority Technology (PRTH) to Release Quarterly Earnings on Thursday

Priority Technology (NASDAQ:PRTH) will announce its earnings results before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of ($0.14) per share for the quarter. Priority Technology has set its FY 2023 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The business had revenue of $182.29 million during the quarter, compared to analysts’ expectations of $189.73 million. On average, analysts expect Priority Technology to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Priority Technology Price Performance

Shares of PRTH stock opened at $3.55 on Wednesday. The company’s fifty day moving average price is $3.34 and its two-hundred day moving average price is $3.60. Priority Technology has a 12 month low of $2.62 and a 12 month high of $6.16. The firm has a market capitalization of $271.82 million, a P/E ratio of -6.02 and a beta of 1.05.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRTH shares. Keefe, Bruyette & Woods started coverage on shares of Priority Technology in a report on Monday, October 16th. They issued a “market perform” rating and a $4.50 price objective on the stock. Lake Street Capital started coverage on Priority Technology in a report on Monday, July 31st. They set a “buy” rating on the stock.

Institutional Investors Weigh In On Priority Technology

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Priority Technology by 89.3% during the first quarter. Vanguard Group Inc. now owns 764,447 shares of the company’s stock worth $4,395,000 after buying an additional 360,626 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Priority Technology by 0.6% in the 3rd quarter. BlackRock Inc. now owns 618,814 shares of the company’s stock worth $2,790,000 after acquiring an additional 3,752 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Priority Technology by 7.0% during the first quarter. Geode Capital Management LLC now owns 325,576 shares of the company’s stock worth $1,169,000 after purchasing an additional 21,192 shares during the period. State Street Corp lifted its holdings in shares of Priority Technology by 60.1% during the second quarter. State Street Corp now owns 290,816 shares of the company’s stock valued at $1,053,000 after purchasing an additional 109,170 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Priority Technology by 45.0% in the 2nd quarter. Northern Trust Corp now owns 145,164 shares of the company’s stock valued at $479,000 after purchasing an additional 45,017 shares during the period. Institutional investors and hedge funds own 11.40% of the company’s stock.

About Priority Technology

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.