A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced. Moreover, the momentum for PRG is fast paced, as the stock currently has a beta of 2.12. This indicates that the stock move ...

PROG Holdings (PRG) shares ended the last trading session 5.5% higher at $37.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7% gain over the past four weeks. Shares of PROG Holdings rallied for the second consecutive day. Rise in consumer confidence in May after three straight months of decline seems have cheered the investors of this consumer loan provider stock. Though inflation and interest rates worry pers ...

PROG Holdings (PRG) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices - - has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a changin ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

PROG Holdings, Inc. (NYSE:PRG) Q1 2024 Earnings Conference Call April 24, 2024 8:30 AM ET Company Participants John Baugh - Vice President, Investor Relations Steve Michaels - President and Chief Executive Officer Brian Garner - Chief Financial Officer Conference Call Participants Kyle Joseph - Jefferies Bradley Thomas - KeyBanc Capital Markets Hoang Nguyen - TD Cowen Robert Griffin - Raymond James Anthony Chukumba - Loop Capital Markets Operator Good day, and thank you for standing by. Welcome to the PROG ...

PROG Holdings (PRG) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $1.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.64%. A quarter ago, it was expected that this rent-to-own company would post earnings of $0.67 per share when it actually produced earnings of $0.72, delivering a surprise of 7.46%.Over the last four quarters, the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ Georgia 85-2484385 (State or other jurisdiction of incorporation or organization) 256 W. Data Drive Draper, Utah 84020-2315 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSI ...

Exhibit 99.1 PROG Holdings Reports First Quarter 2024 Results SALT LAKE CITY, April 24, 2024 - PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, Four Technologies, and Build today announced financial results for the first quarter ended March 31, 2024. "We're pleased with our strong start to the year, with first quarter financial performance exceeding our expectations, driven by better-than-expected GMV, strong portfolio performance and disciplined spending" ...

SALT LAKE CITY and BENGALURU, India, March 1, 2024 /PRNewswire/ -- PROG Holdings, Inc. (NYSE: PRG), the fintech holding company for Progressive Leasing, Vive Financial, Four Technologies, and Build, and Infosys (NSE : INFY), (BSE : INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced an agreement that is expected to evolve and scale PROG Holdings' technology operations as an integral part of the Company's ongoing cloud- and AI-focused technology modernizat ...

Financial Data and Key Metrics Changes - Non-GAAP diluted EPS increased by 41.2% year-over-year to $3.67, benefiting from a lower share count due to the share repurchase program [6][30] - Consolidated revenues declined by 5.7% from $612.1 million to $577.4 million, primarily driven by the decline in the Progressive Leasing segment [29][57] - Adjusted EBITDA for Progressive Leasing decreased from $80.4 million to $65.8 million, resulting in an adjusted EBITDA margin of 11.8% [28][60] - Gross margin improved by 210 basis points year-over-year to 32.9% [12][27] Business Line Data and Key Metrics Changes - Progressive Leasing GMV increased by 1.2% year-over-year, exceeding expectations, with strong performance during the holiday season [43][56] - E-commerce represented approximately 20% of total leasing GMV, with significant growth in new e-commerce retail partners [44] - SG&A expense as a percentage of revenue increased to 15% in Q4 2023 from 13.2% in Q4 2022, primarily due to increased marketing spend [58] Market Data and Key Metrics Changes - The company anticipates continued GMV headwinds in 2024, with a projected low-single-digit decline in Q1 GMV [81][50] - The macroeconomic environment remains challenging, with expectations of soft demand for consumer durable goods [33][18] Company Strategy and Development Direction - The company is focused on a three-pillar strategy: Grow, Enhance, and Expand, with resources allocated to various initiatives across these pillars [21][53] - The PROG Marketplace aims to double GMV in 2024, enhancing direct-to-consumer efforts [15] - The launch of PROG Labs R&D group is intended to improve productivity and customer experience through generative AI [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the health of the portfolio and cost structure despite ongoing economic pressures [7][20] - The company expects a challenging operating environment in 2024, with continued soft demand for leasable categories [18][33] - Management noted that tax refund season impacts GMV and customer liquidity, with expectations for a clearer picture by late March [19] Other Important Information - The Board approved a quarterly cash dividend of $0.12 per share and increased the share repurchase program to $500 million [30][52] - Curt Doman, Co-Founder and Chief Innovation Officer, will retire from his executive role but will remain as a senior adviser and Board member [23][24] Q&A Session Summary Question: What are the dynamics of write-offs in Q4? - Management indicated that write-offs were at the midpoint of their annual targeted range of 6% to 8%, with no significant degradation in portfolio quality [70][72] Question: How did January perform compared to e-commerce versus in-store? - January saw low-single-digit declines, with weather impacting in-store performance more than online [74] Question: What is the outlook for GMV in 2024? - The company expects GMV headwinds to continue, with a low-single-digit decline projected for Q1 [81][50] Question: How is the company managing SG&A expenses? - Management expects SG&A as a percentage of revenue to remain flat in 2024 due to restructuring actions taken [63] Question: What is the expected cash flow generation for 2024? - The relationship between EBITDA and free cash flow is expected to remain consistent, with GMV being a significant variable [110]