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Progressive (PGR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest close session, Progressive (PGR - Free Report) was down 2% at $198.84. This change lagged the S&P 500's daily loss of 1.67%. Meanwhile, the Dow experienced a drop of 1.73%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
The insurer's stock has dropped by 4.17% in the past month, exceeding the Finance sector's loss of 8% and the S&P 500's loss of 6.15%.
The upcoming earnings release of Progressive will be of great interest to investors. The company is expected to report EPS of $4.77, up 2.58% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $22.64 billion, indicating a 9.8% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $16.42 per share and a revenue of $91.69 billion, demonstrating changes of -10.03% and +5.45%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% higher. As of now, Progressive holds a Zacks Rank of #3 (Hold).
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 12.36. For comparison, its industry has an average Forward P/E of 10.14, which means Progressive is trading at a premium to the group.
Meanwhile, PGR's PEG ratio is currently 5.86. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.86 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% 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.
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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest close session, Progressive (PGR - Free Report) was down 2% at $198.84. This change lagged the S&P 500's daily loss of 1.67%. Meanwhile, the Dow experienced a drop of 1.73%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
The insurer's stock has dropped by 4.17% in the past month, exceeding the Finance sector's loss of 8% and the S&P 500's loss of 6.15%.
The upcoming earnings release of Progressive will be of great interest to investors. The company is expected to report EPS of $4.77, up 2.58% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $22.64 billion, indicating a 9.8% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $16.42 per share and a revenue of $91.69 billion, demonstrating changes of -10.03% and +5.45%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% higher. As of now, Progressive holds a Zacks Rank of #3 (Hold).
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 12.36. For comparison, its industry has an average Forward P/E of 10.14, which means Progressive is trading at a premium to the group.
Meanwhile, PGR's PEG ratio is currently 5.86. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.86 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.