Propel (TSE:PRL) Reaches New 52-Week Low – Time to Sell?

Shares of Propel Holdings Inc. (TSE:PRL) reached a new 52-week low on Friday . The company traded as low as $17.24 and last traded at $17.40, with a volume of 208606 shares trading hands. The stock had previously closed at $18.01.

Wall Street Analysts Forecast Growth

PRL has been the topic of several recent analyst reports. ATB Cormark Capital Markets lowered their price target on Propel from C$38.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Raymond James Financial decreased their target price on shares of Propel from C$45.00 to C$32.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Canaccord Genuity Group lowered their target price on shares of Propel from C$37.00 to C$27.00 in a report on Wednesday, March 4th. Stifel Nicolaus dropped their price target on shares of Propel from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Ventum Financial decreased their price objective on shares of Propel from C$4.00 to C$3.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Propel presently has an average rating of “Buy”.

Propel Stock Performance

The business has a fifty day moving average of $22.55 and a two-hundred day moving average of $25.05. The firm has a market capitalization of $686.49 million, a price-to-earnings ratio of 12.37 and a beta of 0.35.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, March 4th were issued a $0.225 dividend. This is an increase from Propel’s previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, February 20th. Propel’s dividend payout ratio is presently 38.09%.

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).