Scotiabank Cuts Propel (TSE:PRL) Price Target to C$38.00

Propel (TSE:PRL) had its price target reduced by Scotiabank from C$40.00 to C$38.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. Cormark upgraded shares of Propel to a “moderate buy” rating in a research report on Thursday, July 10th. Raymond James Financial dropped their price target on shares of Propel from C$46.00 to C$42.00 in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, Propel presently has an average rating of “Buy”.

Propel Stock Down 1.8%

Shares of PRL opened at $21.28 on Wednesday. The stock’s fifty day simple moving average is $28.47 and its 200-day simple moving average is $31.90. The firm has a market capitalization of $837.45 million, a PE ratio of 13.64 and a beta of 1.07. Propel has a 12-month low of $20.99 and a 12-month high of $43.36.

Propel Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, December 4th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, November 14th. Propel’s dividend payout ratio (DPR) is currently 31.67%.

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.