We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why is it Wise to Retain Progressive (PGR) Stock for Now?
Read MoreHide Full Article
Progressive Corp. (PGR - Free Report) shows stability, driven by an expanded product portfolio and competitive rates. Plus, the insurer’s status of improving policy life expectancy will continue to fuel its prospects. This Zacks Rank #3 (Hold) company looks high on potential, banking on a number of growth drivers.
Growth Projections: The Zacks Consensus Estimate for earnings per share is $2.50 on revenues of $26.4 million for 2017. While the top line reflects a year-over-year climb 13.2%, the bottom line surges 50.8%. For 2018, the Zacks Consensus Estimate for earnings per share is pegged at $2.76 on $29.19 billion revenues. While earnings represent a 10.1% rally, revenues reflect a 10.6% rise.
Progressive has long-term expected earnings per share growth of 9%.
North Bound Estimates: The Zacks Consensus Estimate has witnessed upward revisions in the last 60 days. While the estimates for 2017 have soared 37% in the last 60 days, the same for 2018 has risen 4.5% over the same time frame.
An Outperformer: Progressive’s shares have surged 37.7% year to date, outperforming the industry’s gain of 10.1%. The shares have also outperformed the S&P 500, increasing 9.7% over the same period.
Positive Earnings Surprise History: Progressive has surpassed the Zacks Consensus Estimate in two of the last four quarters with an average beat of 6.88%.
Growth Drivers in Place
Progressive will continue to gain from an expanded multi-product offering. The company’s rates are very competitive in all its markets.
Policy life expectancy, a measure for customer retention, has also been exhibiting improvement over the last few years across all business lines of the company. Progressive has several initiatives underway aimed at providing consumers with distinctive new auto insurance options.
The company has also been consistently putting in all efforts to further penetrate the customer households through cross-selling auto policies and Progressive Home Advantage.
In its efforts to enhance shareholders’ value, the company rewards them with special dividends apart from regular payouts and engages in share buyback.
Stocks to Consider
Some better-ranked stocks from the same industry are Atlas Financial Holdings, Inc. , Markel Corporation (MKL) and Mercury General Corporation (MCY - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Atlas Financial underwrites commercial automobile insurance policies in the United States. The company delivered a four-quarter average positive surprise of 57.94%.
Markel markets and underwrites specialty insurance products in the United States and internationally. The company delivered positive surprises in the last four quarters with the average beat of 21.06%.
Mercury General writes personal automobile insurance in the United States. The company delivered positive surprises in the trailing four quarters with the average beat being 1.06%.
4 Surprising Tech Stocks to Keep an Eye on Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
Image: Bigstock
Why is it Wise to Retain Progressive (PGR) Stock for Now?
Progressive Corp. (PGR - Free Report) shows stability, driven by an expanded product portfolio and competitive rates. Plus, the insurer’s status of improving policy life expectancy will continue to fuel its prospects. This Zacks Rank #3 (Hold) company looks high on potential, banking on a number of growth drivers.
Growth Projections: The Zacks Consensus Estimate for earnings per share is $2.50 on revenues of $26.4 million for 2017. While the top line reflects a year-over-year climb 13.2%, the bottom line surges 50.8%. For 2018, the Zacks Consensus Estimate for earnings per share is pegged at $2.76 on $29.19 billion revenues. While earnings represent a 10.1% rally, revenues reflect a 10.6% rise.
Progressive has long-term expected earnings per share growth of 9%.
North Bound Estimates: The Zacks Consensus Estimate has witnessed upward revisions in the last 60 days. While the estimates for 2017 have soared 37% in the last 60 days, the same for 2018 has risen 4.5% over the same time frame.
An Outperformer: Progressive’s shares have surged 37.7% year to date, outperforming the industry’s gain of 10.1%. The shares have also outperformed the S&P 500, increasing 9.7% over the same period.
Positive Earnings Surprise History: Progressive has surpassed the Zacks Consensus Estimate in two of the last four quarters with an average beat of 6.88%.
Growth Drivers in Place
Progressive will continue to gain from an expanded multi-product offering. The company’s rates are very competitive in all its markets.
Policy life expectancy, a measure for customer retention, has also been exhibiting improvement over the last few years across all business lines of the company. Progressive has several initiatives underway aimed at providing consumers with distinctive new auto insurance options.
The company has also been consistently putting in all efforts to further penetrate the customer households through cross-selling auto policies and Progressive Home Advantage.
In its efforts to enhance shareholders’ value, the company rewards them with special dividends apart from regular payouts and engages in share buyback.
Stocks to Consider
Some better-ranked stocks from the same industry are Atlas Financial Holdings, Inc. , Markel Corporation (MKL) and Mercury General Corporation (MCY - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Atlas Financial underwrites commercial automobile insurance policies in the United States. The company delivered a four-quarter average positive surprise of 57.94%.
Markel markets and underwrites specialty insurance products in the United States and internationally. The company delivered positive surprises in the last four quarters with the average beat of 21.06%.
Mercury General writes personal automobile insurance in the United States. The company delivered positive surprises in the trailing four quarters with the average beat being 1.06%.
4 Surprising Tech Stocks to Keep an Eye on Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
See Stocks Now>>