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Progressive (PGR) Q1 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
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Wall Street analysts forecast that Progressive (PGR - Free Report) will report quarterly earnings of $4.77 per share in its upcoming release, pointing to a year-over-year increase of 2.6%. It is anticipated that revenues will amount to $22.62 billion, exhibiting an increase of 9.7% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Progressive metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Net premiums earned' to reach $21.11 billion. The estimate points to a change of +8.8% from the year-ago quarter.
The consensus estimate for 'Investment income' stands at $935.65 million. The estimate suggests a change of +14.9% year over year.
According to the collective judgment of analysts, 'Service revenues' should come in at $124.10 million. The estimate points to a change of +11.8% from the year-ago quarter.
It is projected by analysts that the 'Net premiums earned- Commercial Lines' will reach $2.79 billion. The estimate indicates a change of +3.5% from the prior-year quarter.
Analysts predict that the 'Companywide Total - Expense ratio' will reach 20.6%. Compared to the present estimate, the company reported 20.2% in the same quarter last year.
Based on the collective assessment of analysts, 'Companywide Total - Combined ratio' should arrive at 87.2%. The estimate is in contrast to the year-ago figure of 86.0%.
The collective assessment of analysts points to an estimated 'Companywide Total - Loss/LAE ratio' of 66.6%. Compared to the present estimate, the company reported 65.8% in the same quarter last year.
The combined assessment of analysts suggests that 'Property Business - Combined ratio' will likely reach 78.1%. The estimate is in contrast to the year-ago figure of 87.2%.
The consensus among analysts is that 'Commercial Lines Business - Combined ratio' will reach 88.5%. Compared to the current estimate, the company reported 87.5% in the same quarter of the previous year.
Analysts' assessment points toward 'Property Business - Loss/LAE ratio' reaching 50.1%. Compared to the present estimate, the company reported 58.4% in the same quarter last year.
The average prediction of analysts places 'Property Business - Expense ratio' at 28.0%. The estimate compares to the year-ago value of 28.8%.
Analysts expect 'Personal Lines Business - Direct - Combined ratio' to come in at 89.4%. Compared to the present estimate, the company reported 88.6% in the same quarter last year.
Shares of Progressive have demonstrated returns of -2.6% over the past month compared to the Zacks S&P 500 composite's +0.5% change. With a Zacks Rank #3 (Hold), PGR is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Progressive (PGR) Q1 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
Wall Street analysts forecast that Progressive (PGR - Free Report) will report quarterly earnings of $4.77 per share in its upcoming release, pointing to a year-over-year increase of 2.6%. It is anticipated that revenues will amount to $22.62 billion, exhibiting an increase of 9.7% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Progressive metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Net premiums earned' to reach $21.11 billion. The estimate points to a change of +8.8% from the year-ago quarter.
The consensus estimate for 'Investment income' stands at $935.65 million. The estimate suggests a change of +14.9% year over year.
According to the collective judgment of analysts, 'Service revenues' should come in at $124.10 million. The estimate points to a change of +11.8% from the year-ago quarter.
It is projected by analysts that the 'Net premiums earned- Commercial Lines' will reach $2.79 billion. The estimate indicates a change of +3.5% from the prior-year quarter.
Analysts predict that the 'Companywide Total - Expense ratio' will reach 20.6%. Compared to the present estimate, the company reported 20.2% in the same quarter last year.
Based on the collective assessment of analysts, 'Companywide Total - Combined ratio' should arrive at 87.2%. The estimate is in contrast to the year-ago figure of 86.0%.
The collective assessment of analysts points to an estimated 'Companywide Total - Loss/LAE ratio' of 66.6%. Compared to the present estimate, the company reported 65.8% in the same quarter last year.
The combined assessment of analysts suggests that 'Property Business - Combined ratio' will likely reach 78.1%. The estimate is in contrast to the year-ago figure of 87.2%.
The consensus among analysts is that 'Commercial Lines Business - Combined ratio' will reach 88.5%. Compared to the current estimate, the company reported 87.5% in the same quarter of the previous year.
Analysts' assessment points toward 'Property Business - Loss/LAE ratio' reaching 50.1%. Compared to the present estimate, the company reported 58.4% in the same quarter last year.
The average prediction of analysts places 'Property Business - Expense ratio' at 28.0%. The estimate compares to the year-ago value of 28.8%.
Analysts expect 'Personal Lines Business - Direct - Combined ratio' to come in at 89.4%. Compared to the present estimate, the company reported 88.6% in the same quarter last year.
View all Key Company Metrics for Progressive here>>>Shares of Progressive have demonstrated returns of -2.6% over the past month compared to the Zacks S&P 500 composite's +0.5% change. With a Zacks Rank #3 (Hold), PGR is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .