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Gear Up for Progressive (PGR) Q2 Earnings: Wall Street Estimates for Key Metrics
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In its upcoming report, Progressive (PGR - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $4.30 per share, reflecting an increase of 62.3% compared to the same period last year. Revenues are forecasted to be $21.52 billion, representing a year-over-year increase of 17.9%.
The consensus EPS estimate for the quarter has been revised 1.1% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
According to the collective judgment of analysts, 'Service revenues' should come in at $128.06 million. The estimate indicates a year-over-year change of +20.5%.
Analysts expect 'Net premiums earned' to come in at $20.19 billion. The estimate indicates a change of +17.3% from the prior-year quarter.
Based on the collective assessment of analysts, 'Investment income' should arrive at $860.70 million. The estimate indicates a year-over-year change of +25.7%.
It is projected by analysts that the 'Net premiums earned- Commercial Lines' will reach $2.78 billion. The estimate suggests a change of +4.3% year over year.
The average prediction of analysts places 'Companywide Total - Expense ratio' at 19.7%. Compared to the present estimate, the company reported 19.0% in the same quarter last year.
Analysts predict that the 'Companywide Total - Combined ratio' will reach 88.7%. The estimate compares to the year-ago value of 91.9%.
The consensus among analysts is that 'Companywide Total - Loss/LAE ratio' will reach 68.9%. Compared to the current estimate, the company reported 72.9% in the same quarter of the previous year.
Analysts forecast 'Property Business - Combined ratio' to reach 107.3%. Compared to the present estimate, the company reported 166.3% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Commercial Lines Business - Combined ratio' of 89.9%. The estimate is in contrast to the year-ago figure of 88.6%.
Analysts' assessment points toward 'Property Business - Loss/LAE ratio' reaching 78.3%. The estimate is in contrast to the year-ago figure of 137.4%.
The consensus estimate for 'Property Business - Expense ratio' stands at 29.0%. The estimate is in contrast to the year-ago figure of 28.9%.
The combined assessment of analysts suggests that 'Personal Lines Business - Direct - Combined ratio' will likely reach 89.8%. The estimate is in contrast to the year-ago figure of 89.7%.
Over the past month, Progressive shares have recorded returns of -7.1% versus the Zacks S&P 500 composite's +4.1% change. Based on its Zacks Rank #3 (Hold), PGR will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Gear Up for Progressive (PGR) Q2 Earnings: Wall Street Estimates for Key Metrics
In its upcoming report, Progressive (PGR - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $4.30 per share, reflecting an increase of 62.3% compared to the same period last year. Revenues are forecasted to be $21.52 billion, representing a year-over-year increase of 17.9%.
The consensus EPS estimate for the quarter has been revised 1.1% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
According to the collective judgment of analysts, 'Service revenues' should come in at $128.06 million. The estimate indicates a year-over-year change of +20.5%.
Analysts expect 'Net premiums earned' to come in at $20.19 billion. The estimate indicates a change of +17.3% from the prior-year quarter.
Based on the collective assessment of analysts, 'Investment income' should arrive at $860.70 million. The estimate indicates a year-over-year change of +25.7%.
It is projected by analysts that the 'Net premiums earned- Commercial Lines' will reach $2.78 billion. The estimate suggests a change of +4.3% year over year.
The average prediction of analysts places 'Companywide Total - Expense ratio' at 19.7%. Compared to the present estimate, the company reported 19.0% in the same quarter last year.
Analysts predict that the 'Companywide Total - Combined ratio' will reach 88.7%. The estimate compares to the year-ago value of 91.9%.
The consensus among analysts is that 'Companywide Total - Loss/LAE ratio' will reach 68.9%. Compared to the current estimate, the company reported 72.9% in the same quarter of the previous year.
Analysts forecast 'Property Business - Combined ratio' to reach 107.3%. Compared to the present estimate, the company reported 166.3% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Commercial Lines Business - Combined ratio' of 89.9%. The estimate is in contrast to the year-ago figure of 88.6%.
Analysts' assessment points toward 'Property Business - Loss/LAE ratio' reaching 78.3%. The estimate is in contrast to the year-ago figure of 137.4%.
The consensus estimate for 'Property Business - Expense ratio' stands at 29.0%. The estimate is in contrast to the year-ago figure of 28.9%.
The combined assessment of analysts suggests that 'Personal Lines Business - Direct - Combined ratio' will likely reach 89.8%. The estimate is in contrast to the year-ago figure of 89.7%.
View all Key Company Metrics for Progressive here>>>Over the past month, Progressive shares have recorded returns of -7.1% versus the Zacks S&P 500 composite's +4.1% change. Based on its Zacks Rank #3 (Hold), PGR will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .