Analysts Offer Predictions for PRA Group Inc.’s FY2017 Earnings (PRAA)
PRA Group Inc. (NASDAQ:PRAA) – Research analysts at SunTrust Banks lowered their FY2017 earnings per share (EPS) estimates for PRA Group in a note issued to investors on Monday. SunTrust Banks analyst M. Hughes now anticipates that the brokerage will post earnings of $3.30 per share for the year, down from their previous forecast of $3.70. SunTrust Banks currently has a “Buy” rating and a $42.00 target price on the stock.
PRA Group (NASDAQ:PRAA) last announced its earnings results on Monday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $222 million for the quarter, compared to analyst estimates of $229.85 million. PRA Group had a return on equity of 17.26% and a net margin of 15.87%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS.
A number of other equities analysts have also recently commented on PRAA. Zacks Investment Research raised shares of PRA Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. William Blair reissued an “outperform” rating on shares of PRA Group in a research report on Tuesday, September 20th. Finally, Raymond James Financial Inc. reissued a “market perform” rating and issued a $32.00 target price on shares of PRA Group in a research report on Tuesday. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. PRA Group currently has a consensus rating of “Hold” and an average price target of $34.20.
Shares of PRA Group (NASDAQ:PRAA) traded up 0.98% during midday trading on Thursday, hitting $31.00. 1,192,409 shares of the company were exchanged. The company has a market capitalization of $1.44 billion, a P/E ratio of 10.09 and a beta of 1.38. PRA Group has a one year low of $20.00 and a one year high of $42.03. The company has a 50-day moving average of $32.34 and a 200 day moving average of $29.19.
In related news, insider Michael J. Petit sold 15,000 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $34.21, for a total value of $513,150.00. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Petit sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,315,415.11. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GW&K Investment Management LLC increased its position in PRA Group by 1.3% in the second quarter. GW&K Investment Management LLC now owns 618,097 shares of the company’s stock worth $14,921,000 after buying an additional 8,138 shares during the period. Genesee Valley Trust Co. bought a new position in PRA Group during the second quarter worth approximately $900,000. Bank of Montreal Can bought a new position in PRA Group during the second quarter worth approximately $256,000. Capstone Asset Management Co. increased its position in PRA Group by 1.4% in the second quarter. Capstone Asset Management Co. now owns 14,068 shares of the company’s stock worth $340,000 after buying an additional 200 shares during the period. Finally, Creative Planning increased its position in PRA Group by 40.4% in the second quarter. Creative Planning now owns 12,218 shares of the company’s stock worth $295,000 after buying an additional 3,515 shares during the period.
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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