PROG (PRG) Set to Announce Earnings on Wednesday

PROG (NYSE:PRG) is scheduled to be announcing its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The company had revenue of $577.40 million for the quarter, compared to analyst estimates of $568.35 million. PROG had a return on equity of 28.83% and a net margin of 5.77%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, analysts expect PROG to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

PROG Price Performance

PROG stock opened at $31.50 on Wednesday. The stock’s 50 day moving average is $32.28 and its 200 day moving average is $30.60. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.66 and a quick ratio of 1.49. The firm has a market cap of $1.38 billion, a P/E ratio of 10.64 and a beta of 2.08. PROG has a one year low of $24.28 and a one year high of $44.81.

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Wednesday, March 13th. PROG’s dividend payout ratio is currently 16.22%.

Hedge Funds Weigh In On PROG

Institutional investors have recently modified their holdings of the company. Quilter Plc acquired a new position in shares of PROG during the first quarter worth approximately $1,787,400,000. Lazard Asset Management LLC bought a new stake in PROG during the fourth quarter worth $30,000. Point72 Asset Management L.P. bought a new stake in PROG during the second quarter worth $79,000. Tower Research Capital LLC TRC grew its holdings in PROG by 83.0% during the third quarter. Tower Research Capital LLC TRC now owns 3,836 shares of the company’s stock worth $57,000 after buying an additional 1,740 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in PROG during the second quarter worth $235,000. 97.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on PRG shares. Stephens raised PROG from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 2nd. TD Cowen assumed coverage on PROG in a research note on Friday, March 8th. They issued an “outperform” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.60.

PROG Company Profile

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.