William Blair Comments on PRA Group Inc.’s Q3 2017 Earnings (PRAA)
PRA Group Inc. (NASDAQ:PRAA) – Research analysts at William Blair raised their Q3 2017 earnings per share estimates for PRA Group in a note issued to investors on Tuesday. William Blair analyst R. Napoli now forecasts that the firm will post earnings per share of $0.87 for the quarter, up from their prior estimate of $0.86. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for PRA Group’s Q4 2017 earnings at $0.94 EPS.
PRA Group (NASDAQ:PRAA) last posted its earnings results on Monday, August 8th. The company reported $0.83 EPS for the quarter, hitting analysts’ consensus estimates of $0.83. PRA Group had a net margin of 13.89% and a return on equity of 19.50%. The business earned $228.50 million during the quarter, compared to the consensus estimate of $227.92 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The firm’s revenue was down 3.7% on a year-over-year basis.
PRAA has been the topic of a number of other reports. First Analysis started coverage on shares of PRA Group in a research note on Tuesday, June 7th. They set an “overweight” rating on the stock. Zacks Investment Research upgraded shares of PRA Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. PRA Group presently has an average rating of “Hold” and an average target price of $32.25.
PRA Group (NASDAQ:PRAA) traded down 0.27% during midday trading on Wednesday, reaching $33.50. 200,480 shares of the company’s stock were exchanged. PRA Group has a 12-month low of $20.00 and a 12-month high of $56.00. The stock’s 50-day moving average is $30.17 and its 200-day moving average is $28.52. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 12.47 and a beta of 1.41.
A number of large investors have recently bought and sold shares of PRAA. Capstone Asset Management Co. boosted its stake in PRA Group by 1.4% in the second quarter. Capstone Asset Management Co. now owns 14,068 shares of the company’s stock worth $340,000 after buying an additional 200 shares during the last quarter. PineBridge Investments L.P. boosted its stake in PRA Group by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,876 shares of the company’s stock worth $141,000 after buying an additional 211 shares during the last quarter. Welch & Forbes LLC boosted its stake in PRA Group by 2.3% in the second quarter. Welch & Forbes LLC now owns 11,300 shares of the company’s stock worth $273,000 after buying an additional 250 shares during the last quarter. Profund Advisors LLC boosted its stake in PRA Group by 2.9% in the second quarter. Profund Advisors LLC now owns 10,067 shares of the company’s stock worth $243,000 after buying an additional 280 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in PRA Group by 1.3% in the second quarter. Arizona State Retirement System now owns 24,059 shares of the company’s stock worth $581,000 after buying an additional 300 shares during the last quarter.
In related news, insider Michael J. Petit sold 3,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $28.11, for a total transaction of $84,330.00. Following the completion of the sale, the insider now owns 125,157 shares of the company’s stock, valued at $3,518,163.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Petit sold 8,300 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $28.93, for a total transaction of $240,119.00. Following the sale, the insider now directly owns 116,857 shares of the company’s stock, valued at approximately $3,380,673.01. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
PRA Group Company Profile
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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