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.
Insights Into Progressive (PGR) Q1: Wall Street Projections for Key Metrics
Read MoreHide Full Article
The upcoming report from Progressive (PGR - Free Report) is expected to reveal quarterly earnings of $2.96 per share, indicating an increase of 355.4% compared to the year-ago period. Analysts forecast revenues of $16.5 billion, representing an increase of 16% year over year.
The consensus EPS estimate for the quarter has been revised 4.3% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Progressive metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Net premiums earned' to reach $15.62 billion. The estimate indicates a year-over-year change of +15.5%.
Analysts expect 'Investment income' to come in at $597.19 million. The estimate points to a change of +42.3% from the year-ago quarter.
Analysts' assessment points toward 'Service revenues' reaching $80.03 million. The estimate indicates a change of +10.4% from the prior-year quarter.
Based on the collective assessment of analysts, 'Net premiums earned- Commercial Lines' should arrive at $2.48 billion. The estimate indicates a change of +5.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Companywide Total - Loss/LAE ratio' of 71.6%. Compared to the present estimate, the company reported 78.4% in the same quarter last year.
The combined assessment of analysts suggests that 'Companywide Total - Combined ratio' will likely reach 89.9%. The estimate is in contrast to the year-ago figure of 99%.
The consensus among analysts is that 'Companywide Total - Expense ratio' will reach 18.6%. The estimate is in contrast to the year-ago figure of 20.6%.
It is projected by analysts that the 'Commercial Lines Business - Combined ratio' will reach 94.4%. Compared to the current estimate, the company reported 98.4% in the same quarter of the previous year.
According to the collective judgment of analysts, 'Personal Lines Business - Total - Combined ratio' should come in at 89.6%. The estimate is in contrast to the year-ago figure of 98.7%.
Analysts predict that the 'Personal Lines Business - Direct - Combined ratio' will reach 90.2%. Compared to the current estimate, the company reported 100.4% in the same quarter of the previous year.
The average prediction of analysts places 'Personal Lines Business - Agency - Combined ratio' at 89.0%. The estimate compares to the year-ago value of 96.7%.
The consensus estimate for 'Commercial Lines Business - Expense ratio' stands at 19.9%. The estimate is in contrast to the year-ago figure of 22.1%.
Shares of Progressive have demonstrated returns of +6.9% over the past month compared to the Zacks S&P 500 composite's +1.7% change. With a Zacks Rank #1 (Strong Buy), PGR is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Insights Into Progressive (PGR) Q1: Wall Street Projections for Key Metrics
The upcoming report from Progressive (PGR - Free Report) is expected to reveal quarterly earnings of $2.96 per share, indicating an increase of 355.4% compared to the year-ago period. Analysts forecast revenues of $16.5 billion, representing an increase of 16% year over year.
The consensus EPS estimate for the quarter has been revised 4.3% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Progressive metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Net premiums earned' to reach $15.62 billion. The estimate indicates a year-over-year change of +15.5%.
Analysts expect 'Investment income' to come in at $597.19 million. The estimate points to a change of +42.3% from the year-ago quarter.
Analysts' assessment points toward 'Service revenues' reaching $80.03 million. The estimate indicates a change of +10.4% from the prior-year quarter.
Based on the collective assessment of analysts, 'Net premiums earned- Commercial Lines' should arrive at $2.48 billion. The estimate indicates a change of +5.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Companywide Total - Loss/LAE ratio' of 71.6%. Compared to the present estimate, the company reported 78.4% in the same quarter last year.
The combined assessment of analysts suggests that 'Companywide Total - Combined ratio' will likely reach 89.9%. The estimate is in contrast to the year-ago figure of 99%.
The consensus among analysts is that 'Companywide Total - Expense ratio' will reach 18.6%. The estimate is in contrast to the year-ago figure of 20.6%.
It is projected by analysts that the 'Commercial Lines Business - Combined ratio' will reach 94.4%. Compared to the current estimate, the company reported 98.4% in the same quarter of the previous year.
According to the collective judgment of analysts, 'Personal Lines Business - Total - Combined ratio' should come in at 89.6%. The estimate is in contrast to the year-ago figure of 98.7%.
Analysts predict that the 'Personal Lines Business - Direct - Combined ratio' will reach 90.2%. Compared to the current estimate, the company reported 100.4% in the same quarter of the previous year.
The average prediction of analysts places 'Personal Lines Business - Agency - Combined ratio' at 89.0%. The estimate compares to the year-ago value of 96.7%.
The consensus estimate for 'Commercial Lines Business - Expense ratio' stands at 19.9%. The estimate is in contrast to the year-ago figure of 22.1%.
View all Key Company Metrics for Progressive here>>>
Shares of Progressive have demonstrated returns of +6.9% over the past month compared to the Zacks S&P 500 composite's +1.7% change. With a Zacks Rank #1 (Strong Buy), PGR is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>