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Progressive (PGR) Stock Sinks As Market Gains: Here's Why
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The most recent trading session ended with Progressive (PGR - Free Report) standing at $271.31, reflecting a -2.87% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day.
The the stock of insurer has fallen by 1.82% in the past month, lagging the Finance sector's gain of 5.44% and the S&P 500's gain of 7.21%.
The investment community will be paying close attention to the earnings performance of Progressive in its upcoming release. The company's earnings per share (EPS) are projected to be $3.93, reflecting a 48.3% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $21.53 billion, indicating a 17.92% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $16.17 per share and a revenue of $87.6 billion, representing changes of +15.09% and +16.63%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Progressive. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.53% increase. Progressive presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Progressive is presently being traded at a Forward P/E ratio of 17.28. This expresses a premium compared to the average Forward P/E of 12.07 of its industry.
It's also important to note that PGR currently trades at a PEG ratio of 1.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 2.76.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Progressive (PGR) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Progressive (PGR - Free Report) standing at $271.31, reflecting a -2.87% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day.
The the stock of insurer has fallen by 1.82% in the past month, lagging the Finance sector's gain of 5.44% and the S&P 500's gain of 7.21%.
The investment community will be paying close attention to the earnings performance of Progressive in its upcoming release. The company's earnings per share (EPS) are projected to be $3.93, reflecting a 48.3% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $21.53 billion, indicating a 17.92% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $16.17 per share and a revenue of $87.6 billion, representing changes of +15.09% and +16.63%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Progressive. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.53% increase. Progressive presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Progressive is presently being traded at a Forward P/E ratio of 17.28. This expresses a premium compared to the average Forward P/E of 12.07 of its industry.
It's also important to note that PGR currently trades at a PEG ratio of 1.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 2.76.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.