PROG (NYSE:PRG – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.850-3.100 for the period, compared to the consensus earnings per share estimate of 2.860. The company issued revenue guidance of $2.3 billion-$2.4 billion, compared to the consensus revenue estimate of $2.3 billion. PROG also updated its FY24 guidance to $2.85-3.10 EPS.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on PRG shares. TD Cowen boosted their price objective on shares of PROG from $38.00 to $40.00 and gave the company a buy rating in a research report on Thursday. Stephens raised shares of PROG from an equal weight rating to an overweight rating in a research report on Tuesday, January 2nd. Finally, Loop Capital boosted their price objective on shares of PROG from $31.00 to $35.00 and gave the company a hold rating in a research report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, PROG currently has an average rating of Moderate Buy and a consensus price target of $39.60.
PROG Stock Down 2.3 %
PROG (NYSE:PRG – Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. The business had revenue of $641.87 million during the quarter, compared to the consensus estimate of $632.24 million. PROG had a net margin of 4.71% and a return on equity of 26.67%. As a group, research analysts expect that PROG will post 2.86 earnings per share for the current year.
PROG Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.48 annualized dividend and a yield of 1.41%. PROG’s dividend payout ratio is presently 19.59%.
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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