Propel Holdings Inc. (TSE:PRL) Receives Average Recommendation of “Moderate Buy” from Analysts

Propel Holdings Inc. (TSE:PRL) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company.

Several research firms have recently weighed in on PRL. Scotiabank cut Propel from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$35.00 to C$27.00 in a research report on Tuesday, April 28th. ATB Cormark Capital Markets cut their price objective on shares of Propel from C$38.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Ventum Financial cut their price objective on shares of Propel from C$4.00 to C$3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Raymond James Financial cut their price objective on shares of Propel from C$32.00 to C$31.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus cut their price objective on shares of Propel from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th.

Propel Price Performance

PRL stock opened at $20.83 on Monday. The stock has a market capitalization of $819.91 million, a P/E ratio of 15.54 and a beta of 0.56. The business has a 50-day moving average of $20.34 and a 200-day moving average of $22.58. Propel has a fifty-two week low of $17.24 and a fifty-two week high of $39.15.

Propel Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, June 3rd will be given a $0.24 dividend. This is an increase from Propel’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 15th. Propel’s dividend payout ratio (DPR) is presently 43.86%.

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).