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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source