Propel Holdings Inc. (TSE:PRL) Given Consensus Rating of "Buy" by Analysts

Key Points

• Propel Holdings has a consensus “Buy” rating from seven analysts: five rate it a buy, one a strong buy, and one a hold.
• Analyst views remain mixed on valuation, with price targets ranging from C$27.00 to C$33.00; TD raised its rating to “strong buy,” while Scotiabank downgraded the stock to “sector perform.”
• Propel shares opened at $24.63, with a market capitalization of approximately $969.5 million. The company also increased its quarterly dividend to $0.24 per share, representing a 3.9% annualized yield.

Propel Holdings Inc. (TSE:PRL - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company.

Several research analysts have recently weighed in on the stock. TD set a C$33.00 target price on shares of Propel and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Scotiabank lowered shares of Propel from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from C$35.00 to C$27.00 in a research note on Tuesday, April 28th. Raymond James Financial lowered their price objective on shares of Propel from C$32.00 to C$31.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 6th. Finally, TD Securities raised shares of Propel to a "strong-buy" rating in a research note on Tuesday, July 14th.

Propel Trading Up 0.4%

TSE PRL opened at $24.63 on Friday. Propel has a 1 year low of $17.24 and a 1 year high of $37.33. The company has a market cap of $969.49 million, a PE ratio of 18.38 and a beta of 0.81. The stock's 50-day moving average price is $24.07 and its two-hundred day moving average price is $22.50.

Propel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Propel's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.9%. Propel's payout ratio is presently 43.86%.

About Propel

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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