PROG (NYSE:PRG) Issues FY 2022 Earnings Guidance

PROG (NYSE:PRGGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $2.50-$2.75 for the period, compared to the consensus EPS estimate of $3.39. The company issued revenue guidance of $2.59 billion-$2.69 billion, compared to the consensus revenue estimate of $2.81 billion. PROG also updated its Q2 2022 guidance to EPS.

A number of brokerages have commented on PRG. Raymond James cut PROG from an outperform rating to a market perform rating in a research report on Friday, June 17th. KeyCorp decreased their price objective on PROG from $50.00 to $40.00 and set an overweight rating for the company in a report on Friday, June 17th. Finally, Stephens set a $21.00 price objective on PROG in a report on Monday.

Shares of PRG stock opened at $16.37 on Thursday. The stock’s 50-day moving average is $26.10 and its two-hundred day moving average is $32.95. The firm has a market cap of $884.63 million, a price-to-earnings ratio of 5.53, a PEG ratio of 0.76 and a beta of 1.87. PROG has a 1 year low of $15.62 and a 1 year high of $50.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.37 and a current ratio of 3.35.

PROG (NYSE:PRGGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.17). PROG had a net margin of 7.17% and a return on equity of 24.37%. The firm had revenue of $710.46 million during the quarter, compared to analyst estimates of $719.20 million. During the same quarter in the previous year, the business earned $1.22 EPS. PROG’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts predict that PROG will post 2.51 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of PROG by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,787 shares of the company’s stock worth $598,000 after purchasing an additional 1,982 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of PROG during the 1st quarter worth approximately $601,000. Walleye Capital LLC purchased a new position in shares of PROG during the 1st quarter worth approximately $724,000. Federated Hermes Inc. increased its stake in shares of PROG by 411.7% during the 1st quarter. Federated Hermes Inc. now owns 27,506 shares of the company’s stock worth $792,000 after purchasing an additional 22,131 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in PROG by 6.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 30,504 shares of the company’s stock worth $902,000 after acquiring an additional 1,728 shares during the period. 95.47% of the stock is owned by institutional investors and hedge funds.

PROG Company Profile (Get Rating)

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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Earnings History and Estimates for PROG (NYSE:PRG)

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