Propel (TSE:PRL) Reaches New 1-Year Low – What’s Next?

Propel Holdings Inc. (TSE:PRL)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.50 and last traded at $18.51, with a volume of 315128 shares changing hands. The stock had previously closed at $20.95.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRL shares. Raymond James Financial decreased their target price on shares of Propel from C$42.00 to C$35.00 in a research note on Wednesday, November 5th. Scotiabank cut their target price on Propel from C$40.00 to C$38.00 in a research report on Wednesday, November 5th. Ventum Financial reduced their target price on Propel from C$42.00 to C$40.00 in a report on Thursday, November 6th. Finally, Stifel Nicolaus set a C$38.00 target price on shares of Propel and gave the stock a “buy” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Propel Stock Down 8.5%

The firm’s fifty day simple moving average is $23.97 and its 200-day simple moving average is $26.15. The company has a market cap of $754.02 million, a PE ratio of 12.28 and a beta of 0.62.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, March 4th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, February 20th. This is a positive change from Propel’s previous quarterly dividend of $0.21. Propel’s dividend payout ratio is presently 31.67%.

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. 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).