Pra Group Inc to Post Q3 2019 Earnings of $0.50 Per Share, SunTrust Banks Forecasts (NASDAQ:PRAA)

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Pra Group Inc (NASDAQ:PRAA) – Research analysts at SunTrust Banks lifted their Q3 2019 earnings per share (EPS) estimates for Pra Group in a research note issued on Thursday, August 8th. SunTrust Banks analyst M. Hughes now expects that the business services provider will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.48. SunTrust Banks also issued estimates for Pra Group’s FY2019 earnings at $1.80 EPS, Q2 2020 earnings at $0.54 EPS, Q3 2020 earnings at $0.63 EPS and FY2020 earnings at $2.25 EPS.

Pra Group (NASDAQ:PRAA) last issued its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Pra Group had a net margin of 6.11% and a return on equity of 5.18%. The company had revenue of $252.06 million during the quarter, compared to analysts’ expectations of $245.48 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. Pra Group’s revenue for the quarter was up 13.8% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Pra Group from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. ValuEngine raised shares of Pra Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Buckingham Research boosted their price target on shares of Pra Group from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Pra Group has an average rating of “Hold” and a consensus target price of $32.00.

PRAA stock opened at $32.69 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07. Pra Group has a one year low of $22.62 and a one year high of $39.40. The stock has a market cap of $1.48 billion, a PE ratio of 22.70 and a beta of 1.64. The business has a 50 day moving average of $29.28.

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Pra Group in the 4th quarter valued at $11,381,000. Mason Street Advisors LLC boosted its stake in shares of Pra Group by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 14,549 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 480 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Pra Group by 8.8% in the 1st quarter. Nordea Investment Management AB now owns 649,904 shares of the business services provider’s stock valued at $17,424,000 after purchasing an additional 52,293 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Pra Group in the 2nd quarter valued at $586,000. Finally, Synovus Financial Corp boosted its stake in shares of Pra Group by 40.9% in the 1st quarter. Synovus Financial Corp now owns 29,458 shares of the business services provider’s stock valued at $790,000 after purchasing an additional 8,545 shares in the last quarter.

Pra Group Company Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.

Further Reading: What is the Difference Between Common Shares and Convertible Shares?

Earnings History and Estimates for Pra Group (NASDAQ:PRAA)

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