PROG Holdings falls as annual profit forecast below estimates

PROG Holdings

21/02/2024 17:56

** Shares of fintech company PROG Holdings  PRG.N  fall 3.1%
to $31.27
    ** Co forecasts 2024 adjusted earnings of $2.70 to
$3.00/shr, below analysts' expectations of $3.20/shr - LSEG 
    ** Outlook assumes a difficult operating environment with
continued soft demand for consumer durable goods - PRG
    ** PRG sees Q1 2024 adjusted earnings of 80 cents/shr to 85
cents/shr, the midpoint of which is below expectations of 85
cents/shr    
    ** However, Q4 2023 adjusted earnings of 72 cents/shr topped
analysts' estimates of 69 cents/shr
    ** PRG initiates quarterly cash dividend and authorizes $500
mln share repurchase
    ** Stock surged 83% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))