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Progressive (PGR) Stock Moves -2.48%: What You Should Know
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Progressive (PGR - Free Report) closed the most recent trading day at $206.97, moving -2.48% from the previous trading session. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, added 0.45%.
Shares of the insurer have depreciated by 5.22% over the course of the past month, underperforming the Finance sector's loss of 1.11%, and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of Progressive in its forthcoming earnings report. The company's upcoming EPS is projected at $4.21, signifying a 3.95% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.35 billion, up 5.11% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.9 per share and a revenue of $92.41 billion, signifying shifts of -1.92% and +6.29%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.07% higher. Progressive is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Progressive is presently being traded at a Forward P/E ratio of 11.86. This signifies a premium in comparison to the average Forward P/E of 11.16 for its industry.
It's also important to note that PGR currently trades at a PEG ratio of 2.72. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Property and Casualty industry had an average PEG ratio of 1.69 as trading concluded yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 38% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Progressive (PGR) Stock Moves -2.48%: What You Should Know
Progressive (PGR - Free Report) closed the most recent trading day at $206.97, moving -2.48% from the previous trading session. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, added 0.45%.
Shares of the insurer have depreciated by 5.22% over the course of the past month, underperforming the Finance sector's loss of 1.11%, and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of Progressive in its forthcoming earnings report. The company's upcoming EPS is projected at $4.21, signifying a 3.95% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.35 billion, up 5.11% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.9 per share and a revenue of $92.41 billion, signifying shifts of -1.92% and +6.29%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Progressive. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.07% higher. Progressive is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Progressive is presently being traded at a Forward P/E ratio of 11.86. This signifies a premium in comparison to the average Forward P/E of 11.16 for its industry.
It's also important to note that PGR currently trades at a PEG ratio of 2.72. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Property and Casualty industry had an average PEG ratio of 1.69 as trading concluded yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 38% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.