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Principale » Provident Financial plc (PFG) Rating Reiterated by Numis Securities Ltd

Provident Financial plc (PFG) Rating Reiterated by Numis Securities Ltd

13 Octobre 2017

The stock has a 50-day moving average of GBX 3,161.37 and a 200 day moving average of GBX 2,935.22.

In August, the lender's share price plummeted after the business reported a "rapid deterioration" of its home credit business at which point Provident confirmed chief executive Peter Crook had stepped down with and that Manjit Wolstenholme will assume the role of executive chairman. Provident Financial plc has a 12-month low of GBX 426.60 and a 12-month high of GBX 3,284.00.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada upgraded shares of Provident Financial plc to an "outperform" rating and boosted their target price for the company from GBX 3,000 ($38.54) to GBX 3,200 ($41.10) in a research report on Friday, March 24th.

In addition to Peel Hunt reporting its target price, a total of 11 firms have issued a report on the stock. Barclays PLC lowered shares of Provident Financial plc to an "underweight" rating and set a GBX 584 ($7.68) price objective on the a report on Wednesday.

On 10/12/2017, Liberum Capital released a statement about Provident Financial PLC (LON:PFG) dropped the target price from 487.00GBX to 483.00GBX that suggested a downside of -0.42%. Canaccord Genuity reiterated a "buy" rating and set a GBX 3,430 ($45.10) target price on shares of Provident Financial plc in a research report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Provident Financial plc now has a consensus rating of "Buy" and a consensus price target of GBX 3,131.82 ($40.23).

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Crisis-hit lender Provident has revealed its plans to stabilise the business and improve its financial performance, though the group still stands to make a significant loss.

Provident said its Vanquis Bank division has delivered good growth through the third quarter against tightening credit standards.

The business' Vanquis Bank and Satsuma brands have both made good progress and Moneybarn has continued to enjoy a good flow of new business volumes. The Company serves non-standard credit customers with a range of products from credit cards and auto finance, to home credit and online unsecured, and guarantor loans.

Provident Financial plc (PFG) Rating Reiterated by Numis Securities Ltd