Propel (TSE:PRL) Announces Quarterly Earnings Results, Misses Estimates By $0.11 EPS

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

Propel Stock Down 0.0%

Shares of TSE PRL opened at $26.51 on Wednesday. The stock’s 50-day simple moving average is $24.97 and its two-hundred day simple moving average is $23.36. Propel has a twelve month low of $17.24 and a twelve month high of $29.68. The firm has a market capitalization of $1.04 billion, a P/E ratio of 19.35 and a beta of 0.79.

Propel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were given a dividend of $0.2550 per share. The ex-dividend date was Friday, August 14th. This is a positive change from Propel’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a yield of 3.8%. Propel’s dividend payout ratio (DPR) is presently 46.03%.

Insider Buying and Selling at Propel

In related news, insider Cindy Usprech sold 9,196 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $25.86, for a total value of $237,808.56. Company insiders own 33.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRL shares. Scotia boosted their target price on shares of Propel from C$27.00 to C$29.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Raymond James Financial raised Propel from a “moderate buy” rating to a “strong-buy” rating and raised their price target for the stock from C$31.00 to C$38.00 in a report on Thursday, August 6th. TD Securities upgraded Propel to a “strong-buy” rating in a research report on Tuesday, July 14th. Ventum lifted their price target on Propel from C$30.00 to C$34.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, ATB Cormark Capital Markets boosted their price objective on Propel from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Propel has a consensus rating of “Buy”.

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).