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

Shares of Propel Holdings Inc. (TSE:PRL) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company.

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

Propel Price Performance

PRL stock opened at $22.18 on Friday. Propel has a 1 year low of $17.24 and a 1 year high of $39.15. The firm has a market capitalization of $873.05 million, a PE ratio of 16.55 and a beta of 0.83. The business has a 50 day simple moving average of $21.47 and a 200-day simple moving average of $22.46.

Propel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, May 15th. This is a boost from Propel’s previous quarterly dividend of $0.23. Propel’s dividend payout ratio 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).