Is PROG Holdings Inc. (NYSE: PRG) Still A Buy After A -33.05% Weekly Drop? – Marketing Sentinel
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Is PROG Holdings Inc. (NYSE: PRG) Still A Buy After A -33.05% Weekly Drop?

During the last session, PROG Holdings Inc. (NYSE:PRG)’s traded shares were 1.54 million, with the beta value of the company hitting 2.05. At the end of the trading day, the stock’s price was $16.37, reflecting an intraday gain of 0.86% or $0.14. The 52-week high for the PRG share is $50.79, that puts it down -210.26 from that peak though still a striking 4.58% gain since the share price plummeted to a 52-week low of $15.62. The company’s market capitalization is $865.81M, and the average intraday trading volume over the past 10 days was 1.36 million shares, and the average trade volume was 1.09 million shares over the past three months.

PROG Holdings Inc. (PRG) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.90. PRG has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.69.

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PROG Holdings Inc. (NYSE:PRG) trade information

PROG Holdings Inc. (PRG) registered a 0.86% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.86% in intraday trading to $16.37 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -33.05%, and it has moved by -37.21% in 30 days. Based on these gigs, the overall price performance for the year is -66.03%. The short interest in PROG Holdings Inc. (NYSE:PRG) is 6.11 million shares and it means that shorts have 4.24 day(s) to cover.

The consensus price target of analysts on Wall Street is $37.00, which implies an increase of 55.76% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $21.00 and $44.00 respectively. As a result, PRG is trading at a discount of -168.78% off the target high and -28.28% off the low.

PROG Holdings Inc. (PRG) estimates and forecasts

Statistics show that PROG Holdings Inc. has underperformed its competitors in share price, compared to the industry in which it operates. PROG Holdings Inc. (PRG) shares have gone down -62.98% during the last six months, with a year-to-date growth rate less than the industry average at -25.63% against -12.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -36.70% this quarter and then jump 12.80% in the quarter after that. In the rating firms’ projections, revenue will increase 4.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $668.63 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $704.26 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 14.00%. While earnings are projected to return 23.70% in 2022, the next five years will return 21.00% per annum.

PRG Dividends

PROG Holdings Inc. is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

PROG Holdings Inc. (NYSE:PRG)’s Major holders

PROG Holdings Inc. insiders own 1.09% of total outstanding shares while institutional holders control 106.57%, with the float percentage being 107.75%. Blackrock Inc. is the largest shareholder of the company, while 333 institutions own stock in it. As of Mar 30, 2022, the company held over 7.14 million shares (or 13.22% of all shares), a total value of $205.55 million in shares.

The next largest institutional holding, with 5.62 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.40% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $253.47 million.

Also, the Mutual Funds coming in first place with the largest holdings of PROG Holdings Inc. (PRG) shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 1.61 million shares. This amounts to just over 2.98 percent of the company’s overall shares, with a $72.76 million market value. The same data shows that the other fund manager holds slightly less at 1.58 million, or about 2.92% of the stock, which is worth about $62.81 million.

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