PROG (NYSE:PRG – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.700-0.800 for the period, compared to the consensus EPS estimate of 0.720. The company issued revenue guidance of $599.8 million-$619.8 million, compared to the consensus revenue estimate of $596.9 million. PROG also updated its FY 2024 guidance to 3.300-3.400 EPS.
PROG Stock Performance
Shares of PROG stock opened at $42.09 on Friday. The firm has a fifty day moving average of $46.97 and a two-hundred day moving average of $39.82. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.18 and a beta of 2.11. PROG has a 52 week low of $26.39 and a 52 week high of $50.28. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 3.87.
PROG (NYSE:PRG – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. PROG had a net margin of 4.57% and a return on equity of 26.30%. The company had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. During the same quarter in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts predict that PROG will post 3.34 EPS for the current year.
PROG Dividend Announcement
Analysts Set New Price Targets
PRG has been the subject of several research analyst reports. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Thursday. Jefferies Financial Group upped their target price on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and upped their target price for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp upped their target price on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, TD Cowen upped their target price on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.
Get Our Latest Analysis on PROG
About PROG
PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.
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