Propel (TSE:PRL) Announces Earnings Results

Key Points

• Propel reported quarterly EPS of $0.59, missing the $0.70 consensus estimate, while revenue of $201.47 million also came in below expectations of $279.95 million.
• The company raised its quarterly dividend from $0.24 to $0.255 per share, equivalent to an annualized $1.02 and a 3.8% yield.
• Analysts maintained a consensus Buy rating, with two Strong Buy, five Buy, and two Hold recommendations.

Propel (TSE:PRL - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.11), FiscalAI reports. The company had revenue of $201.47 million during the quarter, compared to the consensus estimate of $279.95 million. Propel had a net margin of 8.81% and a return on equity of 21.12%.

Propel Stock Down 0.0%

PRL stock traded down $0.01 during trading on Tuesday, reaching $26.51. The company's stock had a trading volume of 133,873 shares, compared to its average volume of 217,409. Propel has a 1 year low of $17.24 and a 1 year high of $29.68. The company has a market capitalization of $1.04 billion, a P/E ratio of 19.35 and a beta of 0.88. The company's fifty day moving average is $24.93 and its 200-day moving average is $23.34.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were issued a $0.2550 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.02 annualized dividend and a yield of 3.8%. This is an increase from Propel's previous quarterly dividend of $0.24. Propel's payout ratio is currently 46.03%.

Insider Activity at Propel

In other news, insider Cindy Usprech sold 9,196 shares of the company's stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $25.86, for a total value of $237,808.56. 33.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PRL shares. Scotia boosted their price target on shares of Propel from C$27.00 to C$29.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. Ventum upped their price target on Propel from C$30.00 to C$34.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Stifel Nicolaus set a C$38.00 target price on shares of Propel and gave the stock a "buy" rating in a research note on Monday, August 31st. ATB Cormark Capital Markets lifted their price objective on Propel from C$29.00 to C$38.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Finally, TD set a C$37.00 price target on Propel and gave the stock a "buy" rating in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Propel Company Profile

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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