PROG (NYSE:PRG – Get Free Report) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.65-0.75 for the period, compared to the consensus earnings per share estimate of $0.69. The company issued revenue guidance of $550-575 million, compared to the consensus revenue estimate of $565.93 million. PROG also updated its FY 2024 guidance to 2.850-3.100 EPS.
Analyst Ratings Changes
PRG has been the subject of a number of analyst reports. Stephens raised shares of PROG from an equal weight rating to an overweight rating in a research note on Tuesday, January 2nd. TD Cowen started 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, PROG has a consensus rating of Moderate Buy and an average price target of $39.60.
PROG Stock Performance
PROG (NYSE:PRG – Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $641.87 million during the quarter, compared to analysts’ expectations of $632.24 million. PROG had a return on equity of 28.83% and a net margin of 5.77%. Sell-side analysts forecast that PROG will post 2.83 earnings per share for the current year.
PROG Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.48 annualized dividend and a yield of 1.39%. PROG’s payout ratio is 16.22%.
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.
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