Propel (TSE:PRL) Sets New 52-Week Low – What’s Next?

Propel Holdings Inc. (TSE:PRL) shares hit a new 52-week low on Friday . The company traded as low as $17.24 and last traded at $17.40, with a volume of 208606 shares. The stock had previously closed at $18.01.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRL. Raymond James Financial lowered their target price on shares of Propel from C$45.00 to C$32.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Canaccord Genuity Group cut their price target on Propel from C$37.00 to C$27.00 in a research note on Wednesday, March 4th. Stifel Nicolaus reduced their price objective on Propel from C$38.00 to C$32.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. ATB Cormark Capital Markets lowered their price objective on Propel from C$38.00 to C$27.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Finally, Ventum Financial dropped their target price on Propel from C$4.00 to C$3.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Propel Price Performance

The firm’s 50 day moving average price is $22.42 and its 200-day moving average price is $24.90. The stock has a market cap of $697.51 million, a P/E ratio of 12.57 and a beta of 0.35.

Propel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, March 4th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Friday, February 20th. This is an increase from Propel’s previous quarterly dividend of $0.21. Propel’s dividend payout ratio (DPR) is presently 38.09%.

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).