PRA Group Expected to Post Quarterly Sales of $251.09 Million


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Equities research analysts expect that PRA Group, Inc. (NASDAQ:PRAA) will post $251.09 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for PRA Group’s earnings. The lowest sales estimate is $246.86 million and the highest is $254.48 million. PRA Group reported sales of $273.86 million in the same quarter last year, which indicates a negative year over year growth rate of 8.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 24th.

According to Zacks, analysts expect that PRA Group will report full year sales of $1.09 billion for the current financial year. For the next fiscal year, analysts expect that the business will report sales of $1.00 billion, with estimates ranging from $928.86 million to $1.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow PRA Group.

PRA Group (NASDAQ:PRAA) last issued its earnings results on Monday, November 8th. The business services provider reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.05). PRA Group had a return on equity of 12.58% and a net margin of 16.06%. The company had revenue of $263.70 million during the quarter, compared to analyst estimates of $256.09 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year.

Separately, JMP Securities boosted their price target on PRA Group from $47.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 9th.

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Shares of NASDAQ:PRAA opened at $45.42 on Friday. PRA Group has a 52 week low of $32.78 and a 52 week high of $51.00. The company has a market cap of $1.98 billion, a PE ratio of 11.65 and a beta of 1.35. The firm has a 50 day simple moving average of $46.93 and a 200 day simple moving average of $43.27.

In related news, EVP Christopher B. Graves sold 15,000 shares of the business’s stock in a transaction on Monday, December 27th. The shares were sold at an average price of $48.13, for a total transaction of $721,950.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Steven D. Fredrickson sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $43.97, for a total transaction of $439,700.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,426 shares of company stock valued at $3,188,061. 1.75% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in PRA Group by 7.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,256,578 shares of the business services provider’s stock worth $125,281,000 after purchasing an additional 230,614 shares in the last quarter. Turtle Creek Asset Management Inc. increased its holdings in PRA Group by 2.9% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 2,733,668 shares of the business services provider’s stock valued at $115,197,000 after buying an additional 76,700 shares during the period. Nordea Investment Management AB raised its position in shares of PRA Group by 97.8% in the 3rd quarter. Nordea Investment Management AB now owns 2,200,830 shares of the business services provider’s stock valued at $94,944,000 after buying an additional 1,088,315 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in PRA Group by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,908,753 shares of the business services provider’s stock worth $73,431,000 after purchasing an additional 45,409 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in PRA Group by 1.1% in the third quarter. Stephens Investment Management Group LLC now owns 1,792,984 shares of the business services provider’s stock valued at $75,556,000 after buying an additional 19,827 shares in the last quarter. Institutional investors own 98.89% of the company’s stock.

About PRA Group

PRA Group, Inc engages in the purchase, collection and management of portfolios of nonperforming loans. The firm purchase portfolios of nonperforming loans at a discount in two broad categories: Core and Insolvency. It also provides fee-based services on class action claims recoveries and by servicing consumer bankruptcy accounts in the United States.

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