PROG Holdings, Inc. (NYSE:PRG) Plans Quarterly Dividend of $0.12

PROG Holdings, Inc. (NYSE:PRG) announced a quarterly dividend on Friday, August 9th, NASDAQ reports. Stockholders of record on Tuesday, August 20th will be paid a dividend of 0.12 per share on Tuesday, September 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Tuesday, August 20th.

PROG has a dividend payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PROG to earn $3.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 12.6%.

PROG Stock Up 1.2 %

Shares of PRG opened at $43.81 on Monday. The firm has a 50 day simple moving average of $37.28 and a two-hundred day simple moving average of $34.73. The company has a market cap of $1.89 billion, a P/E ratio of 17.88 and a beta of 2.09. PROG has a one year low of $26.39 and a one year high of $46.40. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.22. PROG had a return on equity of 26.30% and a net margin of 4.57%. The business had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. During the same period in the prior year, the company earned $0.92 EPS. PROG’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts forecast that PROG will post 3.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PRG shares. TD Cowen raised their price target on shares of PROG from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BTIG Research started coverage on shares of PROG in a research note on Friday, June 7th. They set a “neutral” rating on the stock. KeyCorp upped their price target on shares of PROG from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Loop Capital raised their price objective on PROG from $35.00 to $41.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.60.

About PROG

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.