Scotiabank Has Negative Outlook for Propel FY2024 Earnings

Propel Holdings Inc. (TSE:PRL) – Stock analysts at Scotiabank dropped their FY2024 earnings per share (EPS) estimates for shares of Propel in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Hardie now expects that the company will post earnings of $1.62 per share for the year, down from their previous forecast of $1.99. Scotiabank has a “Hold” rating on the stock. The consensus estimate for Propel’s current full-year earnings is $5.39 per share. Scotiabank also issued estimates for Propel’s FY2026 earnings at $3.17 EPS.

A number of other equities analysts also recently weighed in on PRL. Ventum Financial set a C$38.00 price target on shares of Propel and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Ventum Cap Mkts raised Propel to a “strong-buy” rating in a research report on Tuesday, October 8th. Raymond James boosted their price target on Propel from C$40.00 to C$47.00 in a research report on Monday, November 18th. Eight Capital raised their price objective on Propel from C$38.00 to C$45.00 in a report on Friday, November 8th. Finally, Stephens raised Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Propel currently has a consensus rating of “Buy” and an average target price of $41.00.

Propel Stock Performance

PRL opened at $34.25 on Monday. Propel has a 1 year low of $12.88 and a 1 year high of $40.88. The company’s 50 day simple moving average is $36.97 and its 200 day simple moving average is $31.07. The stock has a market capitalization of $1.18 billion, a PE ratio of 23.95 and a beta of 1.75.

Insider Activity

In other Propel news, Senior Officer Cindy Usprech sold 5,600 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $36.13, for a total transaction of $202,345.92. Also, Senior Officer Jonathan Ari Goler sold 5,200 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $38.30, for a total transaction of $199,160.00. Over the last three months, insiders sold 60,459 shares of company stock worth $2,241,343. 33.31% of the stock is currently owned by company insiders.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.15 per share. This is a boost from Propel’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, November 15th. Propel’s payout ratio is presently 39.16%.

Propel Company Profile

Propel Holdings Inc operates as a financial technology company. The company’s lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers. It also offers marketing, analytics, and loan servicing services.