Propel (TSE:PRL) Issues Earnings Results, Misses Expectations By $0.11 EPS

Propel (TSE:PRL) posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $279.95 million. Propel had a return on equity of 21.12% and a net margin of 8.81%.

Propel Stock Performance

PRL traded down $0.01 during midday trading on Tuesday, reaching $26.51. 133,873 shares of the company were exchanged, compared to its average volume of 217,409. The company’s fifty day moving average price is $24.93 and its 200 day moving average price is $23.34. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 19.35 and a beta of 0.88. Propel has a one year low of $17.24 and a one year high of $29.68.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.2550 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.02 dividend on an annualized basis and a yield of 3.8%. This is an increase from Propel’s previous quarterly dividend of $0.24. Propel’s dividend payout ratio is presently 46.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus set a C$38.00 price objective on Propel and gave the company a “buy” rating in a research note on Monday, August 31st. Ventum boosted their price objective on Propel from C$30.00 to C$34.00 and gave the company a “buy” rating in a report on Friday, August 7th. TD set a C$37.00 target price on Propel and gave the stock a “buy” rating in a research report on Wednesday, October 14th. ATB Cormark Capital Markets increased their target price on Propel from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Raymond James Financial upgraded Propel from a “moderate buy” rating to a “strong-buy” rating and increased their target price for the stock from C$31.00 to C$38.00 in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Insider Activity at Propel

In other news, insider Cindy Usprech sold 9,196 shares of the firm’s stock in a transaction that occurred 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 company 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).