Propel (TSE:PRL) Releases Earnings Results

Propel (TSE:PRL) issued its quarterly earnings data on Wednesday. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.28), FiscalAI reports. The firm had revenue of $179.60 million for the quarter, compared to the consensus estimate of $251.89 million. Propel had a net margin of 9.15% and a return on equity of 21.55%.

Propel Price Performance

PRL traded up $0.30 on Wednesday, hitting $26.72. The company had a trading volume of 282,607 shares, compared to its average volume of 242,652. The stock has a fifty day simple moving average of $24.22 and a 200-day simple moving average of $22.53. The firm has a market capitalization of $1.05 billion, a P/E ratio of 19.94 and a beta of 0.79. Propel has a 52-week low of $17.24 and a 52-week high of $37.33.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.8%. This is a boost from Propel’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, August 14th. Propel’s dividend payout ratio (DPR) is 43.86%.

Analysts Set New Price Targets

PRL has been the topic of several recent analyst reports. Raymond James Financial cut their target price on Propel from C$32.00 to C$31.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. TD Securities raised Propel to a “strong-buy” rating in a research note on Tuesday, July 14th. TD set a C$33.00 target price on Propel and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Scotiabank lowered Propel from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$35.00 to C$27.00 in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average 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).