PRA Group (NASDAQ:PRAA) Issues Quarterly Earnings Results, Beats Estimates By $0.37 EPS

PRA Group (NASDAQ:PRAA) released its quarterly earnings results on Monday. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.37, Briefing.com reports. The business had revenue of $281.48 million for the quarter, compared to the consensus estimate of $262.20 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) earnings per share.

PRA Group Stock Performance

Shares of PRAA stock traded up $1.96 on Tuesday, reaching $22.52. The stock had a trading volume of 79,270 shares, compared to its average volume of 203,686. PRA Group has a 1 year low of $13.64 and a 1 year high of $31.43. The stock has a market cap of $887.74 million, a P/E ratio of 236.72 and a beta of 1.50. The company has a 50 day simple moving average of $21.34 and a 200 day simple moving average of $22.03.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRAA shares. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Truist Financial reduced their price objective on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th.

Insider Activity at PRA Group

In related news, Director Geir Olsen acquired 11,750 shares of the stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $21.39 per share, with a total value of $251,332.50. Following the transaction, the director now directly owns 11,750 shares in the company, valued at approximately $251,332.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

PRA Group Company Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.