PROG Holdings, Inc (NYSE:PRG – Get Free Report) announced a quarterly dividend on Thursday, November 5th. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.14 per share by the fintech holding company on Tuesday, December 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 17th.
PROG has decreased its dividend by an average of 0.4% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. PROG has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PROG to earn $5.58 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 10.0%.
PROG Trading Down 2.5%
NYSE:PRG opened at $38.91 on Friday. PROG has a 12 month low of $25.18 and a 12 month high of $47.73. The company has a current ratio of 3.81, a quick ratio of 2.25 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 10.49 and a beta of 1.83. The firm has a fifty day simple moving average of $33.95 and a two-hundred day simple moving average of $35.76.
PROG (NYSE:PRG – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The fintech holding company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). The company had revenue of $725.78 million for the quarter, compared to analyst estimates of $735.28 million. PROG had a net margin of 5.46% and a return on equity of 22.01%. Analysts expect that PROG will post 4.77 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
PRG has been the topic of a number of research reports. Zacks Research downgraded PROG from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. TD Cowen cut their price target on PROG from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Wall Street Zen cut PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Thursday, October 8th. Finally, KeyCorp upped their target price on PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.38.
Get Our Latest Stock Analysis on PRG
PROG Company Profile
PROG Holdings, Inc is a financial technology company that provides consumer payment and lease-to-own solutions through its operating businesses. Its services are designed to help consumers acquire household goods and other merchandise through retail stores, e-commerce websites and other merchant channels.
The company’s primary business is Progressive Leasing, a lease-to-own provider that gives consumers an alternative to traditional credit when purchasing products such as furniture, appliances, electronics, mattresses and other household merchandise.
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