PROG (NYSE: PRG) announced its results Thursday. The company reported EPS of $ 1.22 for the quarter, beating the Thomson Reuters consensus estimate of $ 0.91 by $ 0.31, MarketWatch earnings reports. PROG had a negative net margin of 5.00% and a positive return on equity of 21.39%. PROG has updated its forecast for FY2021 to 3.800-4.050 EPS and its FY21 forecast to $ 3.80 – $ 4.05 EPS.
PRG traded as high as $ 0.07 during trading on Friday, reaching $ 50.94. The company’s shares had a trading volume of 901,966 shares, compared to an average volume of 630,275 shares. The company has a quick ratio of 1.16, a current ratio of 3.01, and a debt ratio of 0.17. The company’s fifty-day moving average price is $ 45.22. The company has a market cap of $ 3.45 billion, a price-to-earnings ratio of -16.02, a price-to-earnings-growth ratio of 0.86, and a beta of 1.95. PROG has a 12 month minimum of $ 28.44 and a 12 month maximum of $ 67.20.
A number of equity research analysts have recently published reports on the stock. Raymond James raised his price target on the PROG stock from $ 63.00 to $ 65.00 and gave the stock an “outperformance” rating in a report on Friday. Zacks investment research upgraded PROG shares from a “maintain” rating to a “strong buy” rating and set a price target of $ 50.00 on the stock in a report on Wednesday. Truist lowered its price target on PROG from $ 65.00 to $ 58.00 in a research report on Monday, April 12. Northcoast Research reaffirmed a “neutral” rating on PROG shares in a research note on Thursday, March 4. Finally, Truist Securities lowered its price target on PROG from $ 65.00 to $ 58.00 in a research note on Monday April 12. One equity research analyst rated the stock with a sustaining rating, six assigned a buy rating, and one issued a strong buy rating for the stock. The stock currently has an average rating of “Buy” and a consensus price target of $ 58.00.
Separately, VP George M. Sewell sold 958 PROG shares in a transaction that took place on Monday March 15th. The stock was sold for an average price of $ 49.49, for a total value of $ 47,411.42. Following the sale, the Vice-President now directly owns 3,244 shares of the company, valued at $ 160,545.56. The sale was disclosed in a file with the Securities & Exchange Commission, which can be accessed via this hyperlink. Insiders own 2.78% of the company’s shares.
PROG Company Profile
PROG Holdings, Inc. operates as an omnichannel provider of hire-purchase solutions to underserved and credit-distressed customers. It operates in two segments, Progressive Leasing and Vive. The Progressive Leasing segment provides customers with hire-purchase solutions for various commodities in the furniture, home appliances, electronics, jewelry, mobile phones and accessories, mattresses and automotive electronics markets and accessories through point-of-sale and online retail partners, as well as in-store, mobile and online solutions.
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See the “7 Cryptocurrencies That Lead the Market Higher”.