Q4 2016 Earnings Forecast for PRA Group Inc. Issued By First Analysis (PRAA)
PRA Group Inc. (NASDAQ:PRAA) – Stock analysts at First Analysis decreased their Q4 2016 earnings per share (EPS) estimates for shares of PRA Group in a note issued to investors on Monday. First Analysis analyst L. Berlin now forecasts that the firm will post earnings per share of $0.79 for the quarter, down from their prior forecast of $0.88. First Analysis also issued estimates for PRA Group’s Q1 2017 earnings at $0.75 EPS, Q2 2017 earnings at $0.88 EPS and Q3 2017 earnings at $0.84 EPS.
A number of other brokerages also recently issued reports on PRAA. William Blair reaffirmed an “outperform” rating on shares of PRA Group in a research note on Tuesday, September 20th. SunTrust Banks Inc. set a $42.00 target price on PRA Group and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Raymond James Financial Inc. reaffirmed a “market perform” rating and issued a $32.00 target price on shares of PRA Group in a research note on Tuesday, November 8th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $34.20.
PRA Group (NASDAQ:PRAA) traded down 1.29% during mid-day trading on Tuesday, reaching $34.50. 188,492 shares of the company were exchanged. PRA Group has a 1-year low of $20.00 and a 1-year high of $41.69. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.23 and a beta of 1.38. The stock’s 50-day moving average price is $32.35 and its 200-day moving average price is $29.21.
PRA Group (NASDAQ:PRAA) last issued its earnings results on Monday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $222 million for the quarter, compared to analysts’ expectations of $229.85 million. PRA Group had a net margin of 15.87% and a return on equity of 17.26%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share.
Several hedge funds have recently modified their holdings of the company. Advisor Group Inc. acquired a new stake in shares of PRA Group during the second quarter worth about $113,000. PineBridge Investments L.P. increased 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 in the last quarter. Tower Research Capital LLC TRC increased 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 in the last quarter. Teacher Retirement System of Texas increased its position in PRA Group by 11.7% in the second quarter. Teacher Retirement System of Texas now owns 6,575 shares of the company’s stock valued at $159,000 after buying an additional 688 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in PRA Group during the third quarter valued at $205,000.
In related news, insider Michael J. Petit sold 5,500 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $34.26, for a total transaction of $188,430.00. Following the completion of the sale, the insider now directly owns 91,857 shares of the company’s stock, valued at approximately $3,147,020.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Petit sold 5,000 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $34.23, for a total value of $171,150.00. Following the sale, the insider now directly owns 96,857 shares of the company’s stock, valued at $3,315,415.11. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
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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