PROG (NYSE:PRG) Issues FY 2026 Earnings Guidance

PROG (NYSE:PRG) updated its FY 2026 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.750-5.000 for the period, compared to the consensus earnings per share estimate of 4.660. The company issued revenue guidance of $3.0 billion-$3.1 billion, compared to the consensus revenue estimate of $3.0 billion. PROG also updated its Q3 2026 guidance to 1.000-1.200 EPS.

PROG Stock Up 5.1%

Shares of PROG stock traded up $2.19 during trading hours on Thursday, reaching $44.97. 240,932 shares of the company’s stock were exchanged, compared to its average volume of 517,626. The stock has a market cap of $1.80 billion, a P/E ratio of 12.29 and a beta of 1.78. The company has a 50 day moving average of $40.78 and a two-hundred day moving average of $35.31. The company has a current ratio of 4.27, a quick ratio of 2.41 and a debt-to-equity ratio of 1.21. PROG has a fifty-two week low of $25.80 and a fifty-two week high of $47.73.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million during the quarter, compared to the consensus estimate of $713.50 million. PROG had a net margin of 5.88% and a return on equity of 21.94%. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. On average, sell-side analysts forecast that PROG will post 4.7 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. PROG’s payout ratio is presently 15.30%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. KeyCorp upped their price target on shares of PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen upped their target price on PROG from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Raymond James Financial reiterated an “outperform” rating and set a $45.00 target price on shares of PROG in a research note on Thursday, April 30th. Stephens boosted their price target on PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Loop Capital lowered PROG from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a report on Wednesday, July 1st. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, PROG presently has an average rating of “Moderate Buy” and an average target price of $49.44.

Key PROG News

Here are the key news stories impacting PROG this week:

• Positive Sentiment: Q2 earnings and revenue beat estimates: PROG reported adjusted earnings of $1.19 per share, above the roughly $0.95–$0.96 analyst consensus, while revenue of $719.72 million also exceeded expectations. EPS increased from $1.02 a year earlier. PROG Holdings Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Full-year outlook was raised: Management now expects fiscal 2026 EPS of $4.75–$5.00, above the $4.66 consensus, with revenue projected at $3.0–$3.1 billion. The outlook incorporates Purchasing Power, acquired in January. PROG Holdings Reports Second Quarter 2026 Results
• Positive Sentiment: Analysts raised targets: B. Riley lifted its price target from $57 to $64 and assigned a Buy rating, while KeyCorp raised its target from $45 to $50 and maintained an Overweight rating. These revisions reinforce confidence in PROG’s earnings momentum and indicate further potential upside.
• Positive Sentiment: Expansion across the ecosystem supports growth: Management cited continued progress across Progressive Leasing, Four Technologies and Purchasing Power, helping drive the improved outlook. PRG Q2 Earnings Call Highlights
• Neutral Sentiment: Near-term guidance was mixed: Third-quarter EPS guidance of $1.00–$1.20 brackets the $1.05 consensus, while revenue guidance of $715–$750 million has a midpoint below analysts’ $746.7 million estimate. This may limit enthusiasm if results trend toward the lower end of the range.

Hedge Funds Weigh In On PROG

A number of institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in PROG by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 46,362 shares of the fintech holding company’s stock worth $1,367,000 after buying an additional 2,645 shares during the period. Horizon Investments LLC increased its position in PROG by 19.5% in the 3rd quarter. Horizon Investments LLC now owns 20,411 shares of the fintech holding company’s stock valued at $660,000 after acquiring an additional 3,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PROG by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock valued at $648,000 after acquiring an additional 1,162 shares during the period. Vident Advisory LLC raised its stake in shares of PROG by 7.7% during the third quarter. Vident Advisory LLC now owns 18,880 shares of the fintech holding company’s stock valued at $611,000 after acquiring an additional 1,349 shares during the last quarter. Finally, Numerai GP LLC raised its stake in shares of PROG by 45.8% during the third quarter. Numerai GP LLC now owns 11,519 shares of the fintech holding company’s stock valued at $373,000 after acquiring an additional 3,617 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

About PROG

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.