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

by · The Markets Daily

Propel (TSE:PRL – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $279.95 million.

Propel Trading Down 0.0%

Shares of TSE:PRL traded down $0.01 on Tuesday, reaching $26.51. The company had a trading volume of 133,873 shares, compared to its average volume of 217,409. The firm’s 50 day simple moving average is $24.93 and its 200-day simple moving average is $23.34. Propel has a 52-week low of $17.24 and a 52-week high of $29.68. The firm has a market capitalization of $1.04 billion, a PE ratio of 19.35 and a beta of 0.88.

Propel Increases Dividend

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

Analyst Ratings Changes

PRL has been the subject of a number of analyst reports. Scotia raised their price target on Propel from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Raymond James Financial raised shares of Propel from a “moderate buy” rating to a “strong-buy” rating and boosted their target price for the company from C$31.00 to C$38.00 in a research note on Thursday, August 6th. TD set a C$37.00 price target on shares of Propel and gave the stock a “buy” rating in a report on Wednesday, October 14th. Ventum raised their price target on shares of Propel from C$30.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, TD Securities raised shares of Propel to a “strong-buy” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

Read Our Latest Report on PRL

Insider Activity at Propel

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

Propel Company Profile

(Get Free Report)

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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