Propel Holdings Inc. (TSE:PRL) Given Consensus Rating of “Moderate Buy” by Brokerages

Propel Holdings Inc. (TSE:PRL) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company.

A number of research analysts have recently issued reports on PRL shares. Scotiabank cut Propel from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$35.00 to C$27.00 in a research note on Tuesday, April 28th. Raymond James Financial dropped their target price on Propel from C$32.00 to C$31.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th.

Propel Stock Down 1.2%

PRL traded down $0.32 during trading on Tuesday, reaching $25.31. 106,005 shares of the company were exchanged, compared to its average volume of 258,248. The company’s 50-day moving average is $22.86 and its two-hundred day moving average is $22.44. The company has a market cap of $996.25 million, a price-to-earnings ratio of 18.89 and a beta of 0.81. Propel has a 12-month low of $17.24 and a 12-month high of $38.78.

Propel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Propel’s previous quarterly dividend of $0.23. Propel’s dividend payout ratio is currently 43.86%.

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).