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Progressive (PGR) Declines More Than Market: Some Information for Investors
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In the latest close session, Progressive (PGR - Free Report) was down 2.25% at $215.54. The stock trailed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.46%.
The insurer's shares have seen an increase of 11.98% over the last month, surpassing the Finance sector's gain of 2.29% and the S&P 500's loss of 1.4%.
The upcoming earnings release of Progressive will be of great interest to investors. The company's upcoming EPS is projected at $4.47, signifying a 8.40% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $23.12 billion, showing a 6.95% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $17.08 per share and a revenue of $92.89 billion, demonstrating changes of -6.41% and +6.84%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Progressive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.36% rise in the Zacks Consensus EPS estimate. Currently, Progressive is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Progressive is currently being traded at a Forward P/E ratio of 12.91. This indicates a premium in contrast to its industry's Forward P/E of 11.47.
We can also see that PGR currently has a PEG ratio of 6.69. 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. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 2.42.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 95, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Progressive (PGR) Declines More Than Market: Some Information for Investors
In the latest close session, Progressive (PGR - Free Report) was down 2.25% at $215.54. The stock trailed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.46%.
The insurer's shares have seen an increase of 11.98% over the last month, surpassing the Finance sector's gain of 2.29% and the S&P 500's loss of 1.4%.
The upcoming earnings release of Progressive will be of great interest to investors. The company's upcoming EPS is projected at $4.47, signifying a 8.40% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $23.12 billion, showing a 6.95% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $17.08 per share and a revenue of $92.89 billion, demonstrating changes of -6.41% and +6.84%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Progressive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.36% rise in the Zacks Consensus EPS estimate. Currently, Progressive is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Progressive is currently being traded at a Forward P/E ratio of 12.91. This indicates a premium in contrast to its industry's Forward P/E of 11.47.
We can also see that PGR currently has a PEG ratio of 6.69. 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. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 2.42.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 95, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.