PRA Group Inc. (PRAA) Expected to Earn FY2016 Earnings of $3.05 Per Share
PRA Group Inc. (NASDAQ:PRAA) – Research analysts at SunTrust Banks cut their FY2016 earnings estimates for shares of PRA Group in a note issued to investors on Monday. SunTrust Banks analyst M. Hughes now anticipates that the brokerage will earn $3.05 per share for the year, down from their prior estimate of $3.25. SunTrust Banks currently has a “Buy” rating and a $42.00 target price on the stock. SunTrust Banks also issued estimates for PRA Group’s Q4 2016 earnings at $0.70 EPS, Q1 2017 earnings at $0.78 EPS, Q2 2017 earnings at $0.84 EPS, Q3 2017 earnings at $0.85 EPS and Q4 2017 earnings at $0.83 EPS.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded PRA Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Raymond James Financial Inc. restated a “market perform” rating and set a $32.00 price target on shares of PRA Group in a research note on Tuesday. They noted that the move was a valuation call. Finally, William Blair restated an “outperform” rating on shares of PRA Group in a research note on Tuesday, September 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $34.20.
Shares of PRA Group (NASDAQ:PRAA) opened at 30.70 on Wednesday. The firm’s 50-day moving average price is $32.42 and its 200-day moving average price is $29.19. PRA Group has a 12 month low of $20.00 and a 12 month high of $42.03. The firm has a market cap of $1.42 billion, a PE ratio of 11.43 and a beta of 1.38.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.03. PRA Group had a return on equity of 17.26% and a net margin of 15.87%. The firm had revenue of $222 million for the quarter, compared to analyst estimates of $229.85 million. During the same period in the prior year, the firm posted $0.99 EPS. The business’s revenue was down 3.2% compared to the same quarter last year.
In related news, insider Michael J. Petit sold 15,000 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $34.21, for a total value of $513,150.00. Following the transaction, the insider now owns 106,857 shares of the company’s stock, valued at $3,655,577.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Petit sold 5,000 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $34.23, for a total value of $171,150.00. Following the completion of the transaction, the insider now directly owns 96,857 shares in the company, valued at approximately $3,315,415.11. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of PRAA. Advisor Group Inc. acquired a new position in PRA Group during the second quarter valued at approximately $113,000. PineBridge Investments L.P. raised its position in PRA Group by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,876 shares of the company’s stock valued at $141,000 after buying an additional 211 shares during the period. Trust Co. of Toledo NA OH acquired a new position in PRA Group during the third quarter valued at approximately $205,000. Tower Research Capital LLC TRC raised its position in PRA Group by 401.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,244 shares of the company’s stock valued at $151,000 after buying an additional 5,000 shares during the period. Finally, BB&T Securities LLC acquired a new position in PRA Group during the third quarter valued at approximately $215,000.
PRA Group Company Profile
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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