Propel (TSE:PRL) Upgraded by TD Securities to “Strong-Buy” Rating

TD Securities upgraded shares of Propel (TSE:PRL) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on PRL. Raymond James Financial lowered their price objective on Propel from C$32.00 to C$31.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. TD set a C$33.00 price target on Propel and gave the company a “buy” rating in a report on Tuesday. Finally, Scotiabank lowered Propel from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$35.00 to C$27.00 in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Propel Stock Performance

Shares of TSE PRL opened at $25.73 on Tuesday. The company has a 50 day simple moving average of $23.31 and a two-hundred day simple moving average of $22.46. Propel has a fifty-two week low of $17.24 and a fifty-two week high of $37.42. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 19.20 and a beta of 0.81.

Propel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, June 3rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Propel’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.7%. Propel’s dividend payout ratio is presently 43.86%.

Propel Company Profile

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).