PROG (NYSE:PRG – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.850-3.100 for the period, compared to the consensus estimate of 2.860. The company issued revenue guidance of $2.3 billion-$2.4 billion, compared to the consensus revenue estimate of $2.3 billion. PROG also updated its FY24 guidance to $2.85-3.10 EPS.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. TD Cowen began coverage on PROG in a research report on Friday, March 8th. They issued an outperform rating and a $37.00 target price for the company. Stephens raised PROG from an equal weight rating to an overweight rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $39.60.
Read Our Latest Stock Analysis on PRG
PROG Stock Performance
PROG (NYSE:PRG – Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The firm had revenue of $577.40 million for the quarter, compared to the consensus estimate of $568.35 million. PROG had a return on equity of 28.83% and a net margin of 5.77%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, equities research analysts forecast that PROG will post 2.83 earnings per share for the current year.
PROG Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s payout ratio is currently 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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