Propel (TSE:PRL) Downgraded by Scotiabank to “Hold”

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

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

Propel Price Performance

TSE PRL opened at $38.18 on Friday. The business’s fifty day moving average price is $31.70 and its 200-day moving average price is $25.22. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 26.70 and a beta of 1.75. Propel has a 1-year low of $8.65 and a 1-year high of $40.88.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, December 4th 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 dividend on an annualized basis and a dividend yield of 1.57%. Propel’s dividend payout ratio is 39.16%.

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.