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Progressive (PGR) Dips More Than Broader Market: What You Should Know
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Progressive (PGR - Free Report) closed the most recent trading day at $239.71, moving -0.24% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.09%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.1%.
The the stock of insurer has fallen by 6.51% in the past month, lagging the Finance sector's loss of 4.24% and the S&P 500's loss of 0.29%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company is predicted to post an EPS of $3.28, indicating a 10.81% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $19.79 billion, indicating a 19.3% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $13.34 per share and a revenue of $74.3 billion, demonstrating changes of +118.33% and +20.32%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Progressive. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.71% rise in the Zacks Consensus EPS estimate. Progressive is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Progressive is currently being traded at a Forward P/E ratio of 18.01. This denotes a premium relative to the industry's average Forward P/E of 13.13.
It's also important to note that PGR currently trades at a PEG ratio of 0.66. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 1.3.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Progressive (PGR) Dips More Than Broader Market: What You Should Know
Progressive (PGR - Free Report) closed the most recent trading day at $239.71, moving -0.24% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.09%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.1%.
The the stock of insurer has fallen by 6.51% in the past month, lagging the Finance sector's loss of 4.24% and the S&P 500's loss of 0.29%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company is predicted to post an EPS of $3.28, indicating a 10.81% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $19.79 billion, indicating a 19.3% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $13.34 per share and a revenue of $74.3 billion, demonstrating changes of +118.33% and +20.32%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Progressive. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.71% rise in the Zacks Consensus EPS estimate. Progressive is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Progressive is currently being traded at a Forward P/E ratio of 18.01. This denotes a premium relative to the industry's average Forward P/E of 13.13.
It's also important to note that PGR currently trades at a PEG ratio of 0.66. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 1.3.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.