Propel (TSE:PRL) Upgraded to “Outperform” at Scotiabank

Scotiabank upgraded shares of Propel (TSE:PRL) from a sector perform rating to an outperform rating in a report published on Friday, BayStreet.CA reports. Scotiabank currently has C$34.00 price target on the stock, up from their previous price target of C$28.00.

Propel Trading Up 7.8 %

TSE:PRL opened at $31.54 on Friday. Propel has a twelve month low of $7.07 and a twelve month high of $32.55. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 22.37 and a beta of 1.81. The firm’s fifty day simple moving average is $27.56 and its 200 day simple moving average is $21.41.

Propel (TSE:PRL) last released its earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Propel had a net margin of 10.17% and a return on equity of 36.84%. The company had revenue of $146.06 million during the quarter, compared to the consensus estimate of $137.00 million. On average, analysts predict that Propel will post 5.2716469 earnings per share for the current year.

Propel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 16th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, August 16th. Propel’s dividend payout ratio is currently 39.72%.

About Propel

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.