Propel (TSE:PRL) Reaches New 1-Year High – What’s Next?

Propel Holdings Inc. (TSE:PRL)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.39 and last traded at $34.25, with a volume of 14980 shares. The stock had previously closed at $33.45.

Analysts Set New Price Targets

PRL has been the subject of several recent analyst reports. Ventum Cap Mkts raised Propel to a “strong-buy” rating in a report on Tuesday, October 8th. Canaccord Genuity Group raised Propel to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank raised shares of Propel from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$28.00 to C$34.00 in a report on Friday, October 4th. Finally, Ventum Financial set a C$38.00 price objective on shares of Propel and gave the stock a “buy” rating in a report on Wednesday, October 9th.

Propel Price Performance

The company has a 50 day simple moving average of $28.24 and a 200-day simple moving average of $22.27. The stock has a market capitalization of $1.15 billion, a P/E ratio of 23.39 and a beta of 1.75.

Propel (TSE:PRL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The business had revenue of $146.06 million for the quarter, compared to analysts’ expectations of $137.00 million. Propel had a return on equity of 36.84% and a net margin of 10.17%. As a group, equities analysts forecast that Propel Holdings Inc. will post 5.3923205 earnings per share for the current fiscal year.

Propel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 16th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, August 16th. Propel’s dividend payout ratio (DPR) is presently 39.16%.

About Propel

Propel Holdings Inc operates as a financial technology company. The company's lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers. It also offers marketing, analytics, and loan servicing services.