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Progressive (PGR) Ascends While Market Falls: Some Facts to Note
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Progressive (PGR - Free Report) ended the recent trading session at $207.38, demonstrating a +1.23% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.37%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 1.33%.
Coming into today, shares of the insurer had gained 2.69% in the past month. In that same time, the Finance sector gained 4.79%, while the S&P 500 gained 2.02%.
The upcoming earnings release of Progressive will be of great interest to investors. In that report, analysts expect Progressive to post earnings of $4.47 per share. This would mark a year-over-year decline of 8.4%. Our most recent consensus estimate is calling for quarterly revenue of $23.03 billion, up 6.55% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $16.82 per share and revenue of $92.97 billion, which would represent changes of -7.84% and +6.94%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.68% upward. Progressive presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Progressive is holding a Forward P/E ratio of 12.18. This expresses a premium compared to the average Forward P/E of 10.99 of its industry.
We can also see that PGR currently has a PEG ratio of 6.31. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Insurance - Property and Casualty industry stood at 2.33 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% 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.
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) Ascends While Market Falls: Some Facts to Note
Progressive (PGR - Free Report) ended the recent trading session at $207.38, demonstrating a +1.23% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.37%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 1.33%.
Coming into today, shares of the insurer had gained 2.69% in the past month. In that same time, the Finance sector gained 4.79%, while the S&P 500 gained 2.02%.
The upcoming earnings release of Progressive will be of great interest to investors. In that report, analysts expect Progressive to post earnings of $4.47 per share. This would mark a year-over-year decline of 8.4%. Our most recent consensus estimate is calling for quarterly revenue of $23.03 billion, up 6.55% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $16.82 per share and revenue of $92.97 billion, which would represent changes of -7.84% and +6.94%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.68% upward. Progressive presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Progressive is holding a Forward P/E ratio of 12.18. This expresses a premium compared to the average Forward P/E of 10.99 of its industry.
We can also see that PGR currently has a PEG ratio of 6.31. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Insurance - Property and Casualty industry stood at 2.33 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.