Propel (TSE:PRL) Trading 0.6% Higher – Time to Buy?

Propel Holdings Inc. (TSE:PRL)’s stock price shot up 0.6% during mid-day trading on Thursday . The company traded as high as $24.76 and last traded at $24.32. 185,838 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 232,753 shares. The stock had previously closed at $24.18.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PRL shares. Scotiabank reduced their price target on shares of Propel from C$40.00 to C$38.00 in a research report on Wednesday, November 5th. Stifel Nicolaus set a C$38.00 price target on Propel and gave the stock a “buy” rating in a report on Thursday, December 4th. Raymond James Financial decreased their price target on shares of Propel from C$42.00 to C$35.00 in a research note on Wednesday, November 5th. Finally, Ventum Financial lowered their price objective on Propel from C$42.00 to C$40.00 in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Propel Price Performance

The company has a market capitalization of $957.09 million, a P/E ratio of 15.59 and a beta of 0.49. The stock’s 50 day moving average is $24.10 and its 200-day moving average is $28.60.

Propel Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, December 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, November 14th. Propel’s payout ratio is currently 31.67%.

About Propel

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).