Research Analysts Set Expectations for PRA Group Inc.’s Q4 2016 Earnings (PRAA)
PRA Group Inc. (NASDAQ:PRAA) – Stock analysts at William Blair reduced their Q4 2016 earnings estimates for PRA Group in a research report issued on Tuesday. William Blair analyst R. Napoli now forecasts that the firm will post earnings of $0.68 per share for the quarter, down from their prior forecast of $0.70. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for PRA Group’s Q2 2017 earnings at $0.84 EPS, Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $3.30 EPS and FY2018 earnings at $3.90 EPS.
Several other equities research analysts have also recently weighed in on the company. Raymond James Financial Inc. cut PRA Group from an “outperform” rating to a “mkt perform” rating in a research note on Wednesday. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, SunTrust Banks Inc. set a $42.00 price target on PRA Group and gave the company a “buy” rating in a research note on Tuesday, October 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $34.20.
Shares of PRA Group (NASDAQ:PRAA) opened at 27.20 on Wednesday. The company has a market cap of $1.26 billion, a PE ratio of 10.12 and a beta of 1.38. The firm has a 50-day moving average price of $32.51 and a 200 day moving average price of $29.18. PRA Group has a 1-year low of $20.00 and a 1-year high of $42.03.
PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 7th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm earned $222 million during the quarter, compared to the consensus estimate of $229.85 million. PRA Group had a net margin of 15.87% and a return on equity of 17.71%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 EPS.
A number of large investors have recently made changes to their positions in PRAA. Turtle Creek Asset Management Inc. purchased a new stake in shares of PRA Group during the third quarter worth approximately $35,422,000. WS Management Lllp purchased a new stake in shares of PRA Group during the second quarter worth approximately $21,475,000. Cooke & Bieler LP boosted its stake in shares of PRA Group by 70.0% in the second quarter. Cooke & Bieler LP now owns 1,132,117 shares of the company’s stock worth $27,329,000 after buying an additional 466,228 shares during the period. Boston Partners purchased a new stake in shares of PRA Group during the second quarter worth approximately $9,404,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of PRA Group during the third quarter worth approximately $13,029,000.
In other PRA Group news, insider Michael J. Petit sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $34.23, for a total value of $171,150.00. Following the completion of the sale, the insider now owns 96,857 shares of the company’s stock, valued at $3,315,415.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Petit sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $34.21, for a total value of $513,150.00. Following the completion of the sale, the insider now directly owns 106,857 shares of the company’s stock, valued at approximately $3,655,577.97. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
About PRA Group
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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