PROG (NYSE:PRG – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.650-0.750 for the period, compared to the consensus EPS estimate of 0.690. The company issued revenue guidance of $550.0 million-$575.0 million, compared to the consensus revenue estimate of $565.9 million. PROG also updated its FY 2024 guidance to 2.850-3.100 EPS.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on PRG. Stephens raised shares of PROG from an equal weight rating to an overweight rating in a research note on Tuesday, January 2nd. TD Cowen started coverage on PROG in a report on Friday, March 8th. They set an outperform rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $39.60.
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PROG Stock Performance
PROG (NYSE:PRG – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. PROG had a return on equity of 28.83% and a net margin of 5.77%. The firm had revenue of $641.87 million for the quarter, compared to analysts’ expectations of $632.24 million. Analysts forecast that PROG will post 2.83 EPS for the current fiscal year.
PROG Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 annualized dividend and a yield of 1.39%. PROG’s payout ratio is 16.22%.
PROG Company Profile
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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