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Progressive (PGR) Outperforms Broader Market: What You Need to Know
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Progressive (PGR - Free Report) closed the most recent trading day at $246.95, moving +1.04% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.41%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.31%.
The insurer's stock has dropped by 1.08% in the past month, falling short of the Finance sector's gain of 1.64% and the S&P 500's gain of 3.15%.
The investment community will be closely monitoring the performance of Progressive in its forthcoming earnings report. The company is expected to report EPS of $4.89, up 36.59% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $22.42 billion, up 15.39% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $18.48 per share and a revenue of $87.4 billion, indicating changes of +31.53% and +16.37%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. The Zacks Consensus EPS estimate has moved 4.67% higher within the past month. As of now, Progressive holds a Zacks Rank of #2 (Buy).
In the context of valuation, Progressive is at present trading with a Forward P/E ratio of 13.23. This indicates a premium in contrast to its industry's Forward P/E of 11.45.
We can also see that PGR currently has a PEG ratio of 1.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Property and Casualty industry had an average PEG ratio of 2.54 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 is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Progressive (PGR) Outperforms Broader Market: What You Need to Know
Progressive (PGR - Free Report) closed the most recent trading day at $246.95, moving +1.04% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.41%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.31%.
The insurer's stock has dropped by 1.08% in the past month, falling short of the Finance sector's gain of 1.64% and the S&P 500's gain of 3.15%.
The investment community will be closely monitoring the performance of Progressive in its forthcoming earnings report. The company is expected to report EPS of $4.89, up 36.59% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $22.42 billion, up 15.39% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $18.48 per share and a revenue of $87.4 billion, indicating changes of +31.53% and +16.37%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. The Zacks Consensus EPS estimate has moved 4.67% higher within the past month. As of now, Progressive holds a Zacks Rank of #2 (Buy).
In the context of valuation, Progressive is at present trading with a Forward P/E ratio of 13.23. This indicates a premium in contrast to its industry's Forward P/E of 11.45.
We can also see that PGR currently has a PEG ratio of 1.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Property and Casualty industry had an average PEG ratio of 2.54 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 is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.