Propel (TSE:PRL) Announces Quarterly Earnings Results

Propel (TSE:PRL) issued its earnings results on Tuesday. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.11), FiscalAI reports. Propel had a net margin of 8.81% and a return on equity of 21.12%. The firm had revenue of $201.47 million during the quarter, compared to analyst estimates of $279.95 million.

Propel Price Performance

TSE:PRL opened at $26.51 on Wednesday. The firm’s 50 day simple moving average is $24.97 and its 200 day simple moving average is $23.36. Propel has a one year low of $17.24 and a one year high of $29.68. The company has a market cap of $1.04 billion, a PE ratio of 19.35 and a beta of 0.79.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were issued a $0.2550 dividend. This is a boost from Propel’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 14th. This represents a $1.02 dividend on an annualized basis and a yield of 3.8%. Propel’s dividend payout ratio (DPR) is 46.03%.

Analyst Upgrades and Downgrades

PRL has been the topic of several analyst reports. TD set a C$37.00 price target on shares of Propel and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Ventum raised their target price on Propel from C$30.00 to C$34.00 and gave the company a “buy” rating in a report on Friday, August 7th. TD Securities upgraded Propel to a “strong-buy” rating in a research note on Tuesday, July 14th. Stifel Nicolaus set a C$38.00 price target on Propel and gave the stock a “buy” rating in a report on Monday, August 31st. Finally, Raymond James Financial upgraded Propel from a “moderate buy” rating to a “strong-buy” rating and upped their price objective for the stock from C$31.00 to C$38.00 in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Insider Transactions at Propel

In other news, insider Cindy Usprech sold 9,196 shares of Propel stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $25.86, for a total transaction of $237,808.56. Company insiders own 33.31% of the company’s stock.

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).