Propel Holdings Inc. (TSE:PRL) Receives Consensus Recommendation of “Strong Buy” from Analysts

Shares of Propel Holdings Inc. (TSE:PRL) have been assigned a consensus recommendation of “Strong Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company.

A number of equities analysts recently commented on the company. Raymond James Financial lowered their target price on Propel from C$46.00 to C$42.00 in a report on Wednesday, July 16th. Scotiabank lifted their price target on Propel from C$38.00 to C$43.00 in a research report on Wednesday, July 23rd. Finally, Cormark raised Propel to a “moderate buy” rating in a report on Thursday, July 10th.

Propel Trading Up 0.6%

Shares of TSE:PRL opened at $32.37 on Thursday. The business has a 50-day moving average price of $34.98 and a 200 day moving average price of $30.95. Propel has a 12-month low of $20.99 and a 12-month high of $43.36. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.87 and a beta of 1.31.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th were given a dividend of $0.78 per share. The ex-dividend date was Wednesday, August 27th. This is a positive change from Propel’s previous quarterly dividend of $0.18. This represents a $3.12 dividend on an annualized basis and a yield of 9.6%. Propel’s dividend payout ratio (DPR) is presently 30.81%.

Insider Activity at Propel

In other Propel news, Director Clive Kinross sold 5,000 shares of the business’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $37.69, for a total transaction of $188,470.00. Also, Senior Officer Gary Edelstein sold 4,500 shares of the business’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $38.81, for a total value of $174,645.00. Insiders sold 81,088 shares of company stock valued at $2,959,376 in the last 90 days. 33.31% of the stock is owned by corporate insiders.

Propel Company Profile

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.