Propel Holdings Inc. (TSE:PRL) Stock Rated “Buy” by Sell-Side Analysts

Propel Holdings Inc. (TSE:PRL) has earned an average recommendation of “Buy” from the nine brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company.

Several equities research analysts recently issued reports on the company. TD set a C$37.00 price objective on Propel and gave the stock a “buy” rating in a research note on Wednesday, October 14th. TD Securities raised Propel to a “strong-buy” rating in a report on Tuesday, July 14th. Raymond James Financial raised shares of Propel from a “moderate buy” rating to a “strong-buy” rating and upped their price objective for the company from C$31.00 to C$38.00 in a research report on Thursday, August 6th. ATB Cormark Capital Markets upped their target price on Propel from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, Ventum raised their target price on Propel from C$30.00 to C$34.00 and gave the stock a “buy” rating in a research report on Friday, August 7th.

Propel Price Performance

Shares of TSE:PRL opened at $24.30 on Thursday. Propel has a 12 month low of $17.24 and a 12 month high of $29.68. The stock’s 50 day moving average price is $24.94 and its 200 day moving average price is $23.90. The stock has a market cap of $956.50 million, a price-to-earnings ratio of 17.74 and a beta of 0.88.

Propel (TSE:PRL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.08). The firm had revenue of $179.60 million during the quarter, compared to analyst estimates of $251.89 million. Propel had a net margin of 8.81% and a return on equity of 21.12%. On average, sell-side analysts expect that Propel will post 5.39 EPS for the current year.

Propel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were issued a $0.2550 dividend. This is a boost from Propel’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.02 annualized dividend and a yield of 4.2%. Propel’s payout ratio is presently 46.03%.

Insider Activity

In other news, insider Cindy Usprech sold 9,196 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $25.86, for a total transaction of $237,808.56. Corporate insiders own 33.31% of the company’s stock.

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).