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) Rises As Market Takes a Dip: Key Facts
Read MoreHide Full Article
In the latest trading session, Progressive (PGR - Free Report) closed at $204.20, marking a +2.03% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%.
The insurer's stock has climbed by 0.86% in the past month, falling short of the Finance sector's gain of 0.94% and outpacing the S&P 500's loss of 0.03%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.74, reflecting a 23.36% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $22.88 billion, up 5.84% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $16.35 per share and revenue of $92.51 billion, which would represent changes of -10.41% and +6.4%, respectively, from the prior year.
Any recent changes to analyst estimates for Progressive should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.28% lower. Progressive is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Progressive has a Forward P/E ratio of 12.24 right now. This signifies a premium in comparison to the average Forward P/E of 10.73 for its industry.
Meanwhile, PGR's PEG ratio is currently 5.8. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Insurance - Property and Casualty was holding an average PEG ratio of 2.32 at yesterday's closing price.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Progressive (PGR) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Progressive (PGR - Free Report) closed at $204.20, marking a +2.03% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%.
The insurer's stock has climbed by 0.86% in the past month, falling short of the Finance sector's gain of 0.94% and outpacing the S&P 500's loss of 0.03%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.74, reflecting a 23.36% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $22.88 billion, up 5.84% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $16.35 per share and revenue of $92.51 billion, which would represent changes of -10.41% and +6.4%, respectively, from the prior year.
Any recent changes to analyst estimates for Progressive should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.28% lower. Progressive is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Progressive has a Forward P/E ratio of 12.24 right now. This signifies a premium in comparison to the average Forward P/E of 10.73 for its industry.
Meanwhile, PGR's PEG ratio is currently 5.8. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Insurance - Property and Casualty was holding an average PEG ratio of 2.32 at yesterday's closing price.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.