PRA Group, Inc. (NASDAQ:PRAA) – Equities research analysts at SunTrust Banks lowered their Q3 2017 EPS estimates for shares of PRA Group in a report issued on Tuesday. SunTrust Banks analyst M. Hughes now expects that the business services provider will post earnings per share of $0.37 for the quarter, down from their prior forecast of $0.49. SunTrust Banks also issued estimates for PRA Group’s Q4 2017 earnings at $0.44 EPS.
PRA Group (NASDAQ:PRAA) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.48 by $0.23. PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The company had revenue of $200.30 million during the quarter, compared to the consensus estimate of $208.97 million. During the same quarter in the prior year, the business earned $0.83 EPS. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year.
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PRAA has been the subject of a number of other research reports. Zacks Investment Research upgraded PRA Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub cut PRA Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods started coverage on PRA Group in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.00.
PRA Group (NASDAQ:PRAA) opened at 32.15 on Thursday. The firm has a 50-day moving average price of $38.14 and a 200 day moving average price of $36.31. PRA Group has a 52 week low of $23.15 and a 52 week high of $42.70. The company has a market cap of $1.45 billion, a P/E ratio of 19.60 and a beta of 1.49.
In other PRA Group news, Director Geir Olsen bought 142,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was purchased at an average price of $34.55 per share, for a total transaction of $4,906,100.00. Following the completion of the transaction, the director now owns 27,162 shares of the company’s stock, valued at approximately $938,447.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in PRA Group by 53,101.9% in the first quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock valued at $199,134,000 after buying an additional 5,995,740 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its stake in PRA Group by 104.0% in the first quarter. Turtle Creek Asset Management Inc. now owns 4,303,119 shares of the business services provider’s stock valued at $142,648,000 after buying an additional 2,194,100 shares in the last quarter. Norges Bank acquired a new stake in PRA Group during the fourth quarter valued at about $18,549,000. Vanguard Group Inc. boosted its stake in PRA Group by 9.4% in the first quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock valued at $138,779,000 after buying an additional 360,823 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in PRA Group by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,744,664 shares of the business services provider’s stock valued at $66,123,000 after buying an additional 218,409 shares in the last quarter.
About PRA Group
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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