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Why Shares of PROG Holdings Set a New 52-Week Low Today

PROG Holdings NYSE PRG

PROG Holdings, Inc. (NYSE:PRG) shares are trading lower after the company cut forward-year 2022 adjusted earnings-per-share and sales guidance below estimates.

The company's revised consolidated annual outlook for 2022 is as follows cutting forward-year 2022 adjusted earnings-per-share guidance from $3.25-$3.70 to $2.50-$2.75 versus a $3.39 estimate. Also cutting forward-year 2022 sales guidance from $2.79-$2.90 billion To $2.59-$2.69 billion versus a $2.81 billion estimate.

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