It takes time to turn a business around, and often longer still to drive a turn in sentiment and regain investor trust. Such is the case with PRA Group (NASDAQ: PRAA ), asAnalyst’s Disclosure: I/we have a beneficial long position in the shares of PRAA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock i ...

Core Insights - Investors in PRA Group, Inc. (PRAA) should monitor stock movements due to significant activity in the options market, particularly the Dec. 20, 2024 $15 Call which has high implied volatility [1] Company Overview - PRA Group is currently ranked 3 (Hold) in the Financial - Miscellaneous Services industry, which is in the top 22% of the Zacks Industry Rank [3] - Over the last 60 days, three analysts have raised their earnings estimates for the current quarter, increasing the Zacks Consensus Estimate from 36 cents per share to 45 cents [3] Market Sentiment - The high implied volatility suggests that options traders anticipate a significant price movement for PRA Group shares, indicating potential upcoming events that could lead to a rally or sell-off [2][4] - Options traders often seek high implied volatility options to sell premium, aiming to benefit from the decay of options value if the stock does not move as expected [4]

NORFOLK, Va., Nov. 20, 2024 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA) (the "Company"), a global leader in acquiring and collecting nonperforming loans, announced today the pricing of its upsized offering of $150.0 million aggregate principal amount of 8.875% Senior Notes due 2030 (the "notes"), which was upsized by $50.0 million from the previously announced $100.0 million, at a price of 103.625% of their principal amount, in a private transaction that is exempt from the registration requirements of th ...

NORFOLK, Va., Nov. 20, 2024 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA) (the "Company"), a global leader in acquiring and collecting nonperforming loans, announced today that it plans, subject to market and other conditions, to offer $100.0 million aggregate principal amount of senior notes due 2030 (the "notes") in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The notes will be a further issuance of the Company's ...

PRA Group, Inc.’s (PRAA) shares gained 17.8% since it reported third-quarter 2024 results on Nov. 6, 2024. The strong quarterly results benefited from strong cash collections and purchases in the third quarter. Moreover, the company showed optimism in achieving its 2024 targets and expects accelerated progress in 2025, driving investor confidence upward. However, rising expenses partially offset the positives.PRAA reported third-quarter 2024 earnings per share of 49 cents, which beat the Zacks Consensus Est ...

NORFOLK, Va., Nov. 8, 2024 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announces today that management is scheduled to participate at the following investor conferences in November and December:Citizens JMP Securities Financial Services ConferenceDate: Tuesday, November 12, 2024Conference Type: 1x1 meetings onlyLocation: Lotte New York Palace, New York, New YorkFurey Research Partners Hidden Gems ConferenceDate: Tuesday, November 26, 2024C ...

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market engagement and confidence [1] - The Zacks Style Scores are designed to complement the Zacks Rank, aiding investors in selecting stocks likely to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated from A to F based on value, growth, and momentum characteristics, with A indicating the highest potential for outperformance [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [3][4][5] Value Score - The Value Score identifies undervalued stocks using financial ratios such as P/E, PEG, and Price/Sales, appealing to value investors [3] Growth Score - The Growth Score assesses a company's future earnings, sales, and cash flow to find stocks with sustainable growth potential [4] Momentum Score - The Momentum Score helps investors capitalize on price trends, utilizing metrics like weekly price changes and monthly earnings estimate shifts [4] VGM Score - The VGM Score combines the three Style Scores to highlight stocks with attractive value, strong growth forecasts, and positive momentum [5] Zacks Rank Integration - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to guide investors in stock selection [6] - Stocks rated 1 (Strong Buy) have historically achieved an average annual return of +25.41%, significantly outperforming the S&P 500 [7] Stock Selection Strategy - To optimize returns, investors should target stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [8] - Stocks with lower ranks but high Style Scores may still present risks due to downward earnings forecasts [9] Company Spotlight: PRA Group - PRA Group, Inc. is a global financial services company with a current Zacks Rank of 3 (Hold) and a VGM Score of B [10] - The company has a Momentum Style Score of A, with shares increasing by 16.9% over the past four weeks [10] - For fiscal 2024, PRA Group's earnings estimate has risen by $0.58 to $1.71 per share, with an impressive average earnings surprise of 305.3% [11]

PRA Group (PRAA) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to loss of $0.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 44.12%. A quarter ago, it was expected that this debt collector would post earnings of $0.05 per share when it actually produced earnings of $0.54, delivering a surprise of 980%.Over the last four quarters, the company has s ...

Core Insights - PRA Group, Inc. reported strong financial results for Q3 2024, achieving a net income of $27.2 million, or diluted earnings per share of $0.69, which includes a tax benefit of $7.7 million [2][3] - The company is on track to meet its financial and operational targets for 2024 and has announced new targets for 2025, focusing on growth and profitability [1][10] Financial Performance - Total cash collections for Q3 2024 increased by 13.7% year-over-year to $477.1 million, driven by higher collections in both the U.S. and Europe [4][5] - Total portfolio revenue for Q3 2024 rose by 30.5% to $276.7 million compared to $212.1 million in Q3 2023 [4][5] - Adjusted EBITDA for the 12 months ending September 30, 2024, was reported at $1.1 billion [2] Portfolio Acquisitions - The company invested $350 million in portfolio purchases during Q3 2024, contributing to a record estimated remaining collections (ERC) of $7.3 billion [3][8] - Forward flow commitments of $491.1 million are in place for the next 12 months, with $406.3 million in the Americas and Australia and $84.8 million in Europe [8][10] Operational Efficiency - The cash efficiency ratio for Q3 2024 was reported at 60.1% [2] - Operating expenses increased by 10.4% to $191.5 million, primarily due to higher legal collection costs and compensation expenses [6][7] Future Outlook - The company aims for portfolio investment levels to exceed $1.0 billion in 2025, with cash collections growth projected at 8% to 10% [10] - The return on average tangible equity is expected to improve to over 8% in 2024, up from a previous range of 6% to 8% [10]

Core Points - PRA Group, Inc. amended and extended its North American and UK credit agreements, totaling $2.3 billion, for five years to October 2029 with unchanged pricing [1][2] - The interest margin remains at 2.25% for the North American Credit Agreement and 2.75% for the UK Credit Agreement [1] - The company expresses gratitude for the support from existing and new lenders, highlighting the financial flexibility this provides for future growth [2] Company Overview - PRA Group, Inc. is a global leader in acquiring and collecting nonperforming loans, helping to return capital to banks and creditors to enhance financial services for consumers in the Americas, Europe, and Australia [3]