Propel (TSE:PRL) Releases Earnings Results, Misses Estimates By $0.11 EPS

Propel (TSE:PRL) posted its quarterly earnings data on Tuesday. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.11), FiscalAI reports. The firm had revenue of $201.47 million during the quarter, compared to analyst estimates of $279.95 million. Propel had a net margin of 8.68% and a return on equity of 21.79%.

Propel Stock Up 15.2%

Shares of TSE PRL opened at $30.53 on Thursday. Propel has a 52-week low of $17.24 and a 52-week high of $31.06. The firm has a fifty day moving average of $25.08 and a 200-day moving average of $23.40. The stock has a market capitalization of $1.20 billion, a PE ratio of 22.28 and a beta of 0.79.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, November 26th. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. This is a boost from Propel’s previous quarterly dividend of $0.2550. Propel’s dividend payout ratio is presently 46.03%.

Wall Street Analyst Weigh In

PRL has been the topic of a number of analyst reports. Stifel Nicolaus set a C$38.00 target price on shares of Propel and gave the stock a “buy” rating in a research report on Monday, August 31st. ATB Cormark Capital Markets boosted their price target on Propel from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, August 7th. TD Securities upgraded Propel to a “strong-buy” rating in a report on Tuesday, July 14th. Ventum increased their price target on Propel from C$30.00 to C$34.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Scotia increased their price target on Propel from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Insider Activity at Propel

In related news, insider Cindy Usprech sold 9,196 shares of the stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $25.86, for a total value of $237,808.56. 33.31% of the stock is currently owned by insiders.

About Propel

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).