PROG (NYSE:PRG – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.85-3.10 for the period, compared to the consensus estimate of $2.86. The company issued revenue guidance of $2.29-2.36 billion, compared to the consensus revenue estimate of $2.32 billion. PROG also updated its FY 2024 guidance to 2.850-3.100 EPS.
Analyst Ratings Changes
A number of research firms have recently commented on PRG. TD Cowen began coverage on shares of PROG in a research note on Friday, March 8th. They set an outperform rating and a $37.00 target price for the company. Stephens raised shares of PROG from an equal weight rating to an overweight rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, PROG currently has a consensus rating of Moderate Buy and a consensus price target of $39.60.
Check Out Our Latest Analysis on PRG
PROG Stock Performance
PROG (NYSE:PRG – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. PROG had a net margin of 5.77% and a return on equity of 28.83%. The company had revenue of $577.40 million for the quarter, compared to the consensus estimate of $568.35 million. During the same period in the prior year, the firm posted $0.84 EPS. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities research analysts predict that PROG will post 2.83 EPS for the current year.
PROG Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Wednesday, March 13th. PROG’s dividend payout ratio is presently 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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