PROG (NYSE:PRG – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.700-0.800 for the period, compared to the consensus estimate of 0.700. The company issued revenue guidance of $590.0 million-$605.0 million, compared to the consensus revenue estimate of $560.6 million. PROG also updated its FY 2024 guidance to 3.250-3.400 EPS.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on PRG shares. Loop Capital increased their price target on shares of PROG from $35.00 to $41.00 and gave the stock a hold rating in a report on Thursday. KeyCorp increased their target price on PROG from $44.00 to $46.00 and gave the company an overweight rating in a research note on Thursday. BTIG Research initiated coverage on PROG in a research report on Friday, June 7th. They set a neutral rating on the stock. Finally, TD Cowen upped their price objective on PROG from $40.00 to $47.00 and gave the stock a buy rating in a report on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, PROG has a consensus rating of Moderate Buy and a consensus price target of $42.60.
Check Out Our Latest Analysis on PROG
PROG Trading Up 4.5 %
PROG (NYSE:PRG – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The firm had revenue of $592.16 million for the quarter, compared to the consensus estimate of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Research analysts expect that PROG will post 3.33 EPS for the current fiscal year.
PROG Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. PROG’s dividend payout ratio (DPR) is presently 19.59%.
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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