Propel (TSE:PRL) Rating Lowered to Hold at Scotiabank

Scotiabank downgraded shares of Propel (TSE:PRL) from a strong-buy rating to a hold rating in a research report report published on Friday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on PRL. Ventum Cap Mkts upgraded shares of Propel to a “strong-buy” rating in a report on Tuesday, October 8th. Eight Capital boosted their target price on Propel from C$38.00 to C$45.00 in a report on Friday. Raymond James increased their price target on shares of Propel from C$34.00 to C$40.00 in a report on Thursday, November 7th. Canaccord Genuity Group upgraded Propel to a “strong-buy” rating in a report on Friday, October 4th. Finally, Ventum Financial set a C$38.00 price target on Propel and gave the stock a “buy” rating in a research report on Wednesday, October 9th.

Propel Price Performance

Propel stock opened at $38.18 on Friday. The firm’s 50 day moving average price is $31.70 and its 200-day moving average price is $25.22. Propel has a 1 year low of $8.65 and a 1 year high of $40.88. The stock has a market cap of $1.31 billion, a P/E ratio of 26.70 and a beta of 1.75.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 15th will be paid a $0.15 dividend. This is a positive change from Propel’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 1.57%. Propel’s dividend payout ratio is currently 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.