We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Progressive (PGR) Stock Slides as Market Rises: Facts to Know Before You Trade
Read MoreHide Full Article
Progressive (PGR - Free Report) closed the most recent trading day at $245.47, moving -1.13% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.47%. Meanwhile, the Dow experienced a rise of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.94%.
Prior to today's trading, shares of the insurer had gained 0.46% lagged the Finance sector's gain of 2.42% and the S&P 500's gain of 2.32%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.07, indicating a 13.69% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $22.45 billion, showing a 15.55% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.68 per share and revenue of $87.48 billion, indicating changes of +25.84% and +16.47%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 1.13% higher. Progressive is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 14.05. This expresses a premium compared to the average Forward P/E of 11.55 of its industry.
One should further note that PGR currently holds a PEG ratio of 1.44. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Insurance - Property and Casualty industry had an average PEG ratio of 2.49 as trading concluded yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% 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.
To follow PGR in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Progressive (PGR) Stock Slides as Market Rises: Facts to Know Before You Trade
Progressive (PGR - Free Report) closed the most recent trading day at $245.47, moving -1.13% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.47%. Meanwhile, the Dow experienced a rise of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.94%.
Prior to today's trading, shares of the insurer had gained 0.46% lagged the Finance sector's gain of 2.42% and the S&P 500's gain of 2.32%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company is predicted to post an EPS of $4.07, indicating a 13.69% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $22.45 billion, showing a 15.55% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.68 per share and revenue of $87.48 billion, indicating changes of +25.84% and +16.47%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 1.13% higher. Progressive is holding a Zacks Rank of #2 (Buy) right now.
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 14.05. This expresses a premium compared to the average Forward P/E of 11.55 of its industry.
One should further note that PGR currently holds a PEG ratio of 1.44. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Insurance - Property and Casualty industry had an average PEG ratio of 2.49 as trading concluded yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% 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.
To follow PGR in the coming trading sessions, be sure to utilize Zacks.com.