Propel (TSE:PRL) Posts Earnings Results, Misses Estimates By $0.28 EPS

Propel (TSE:PRL – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.28), FiscalAI reports. The company had revenue of $179.60 million for the quarter, compared to analyst estimates of $251.89 million. Propel had a net margin of 9.15% and a return on equity of 21.55%.

Propel Stock Up 1.1%

Propel stock traded up $0.30 during mid-day trading on Wednesday, hitting $26.72. The company’s stock had a trading volume of 282,607 shares, compared to its average volume of 242,652. The stock has a market capitalization of $1.05 billion, a P/E ratio of 19.94 and a beta of 0.79. Propel has a twelve month low of $17.24 and a twelve month high of $37.33. The stock’s fifty day moving average price is $24.22 and its two-hundred day moving average price is $22.53.

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Propel Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.8%. This is a positive change from Propel’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, August 14th. Propel’s dividend payout ratio (DPR) is presently 43.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PRL shares. TD set a C$33.00 price target on Propel and gave the company a “buy” rating in a research report on Tuesday, July 14th. TD Securities raised Propel to a “strong-buy” rating in a research note on Tuesday, July 14th. Scotiabank lowered Propel from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$35.00 to C$27.00 in a report on Tuesday, April 28th. Finally, Raymond James Financial dropped their price target on shares of Propel from C$32.00 to C$31.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Propel has an average rating of “Buy”.

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About Propel

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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).

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