PROG (NYSE:PRG – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.85-3.10 for the period, compared to the consensus EPS estimate of $2.86. The company issued revenue guidance of $2.29-2.36 billion, compared to the consensus revenue estimate of $2.32 billion. PROG also updated its FY 2024 guidance to 2.850-3.100 EPS.
Analysts Set New Price Targets
Several brokerages have recently commented on PRG. Stephens raised PROG from an equal weight rating to an overweight rating in a research report on Tuesday, January 2nd. TD Cowen started coverage on PROG in a research report on Friday, March 8th. They issued an outperform rating and a $37.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $39.60.
Read Our Latest Analysis on PRG
PROG Trading Down 3.0 %
PROG (NYSE:PRG – Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $641.87 million during the quarter, compared to analysts’ expectations of $632.24 million. PROG had a net margin of 5.77% and a return on equity of 28.83%. On average, sell-side analysts expect that PROG will post 2.83 earnings per share for the current fiscal year.
PROG Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s payout ratio is 16.22%.
PROG Company Profile
PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.
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