Progressive (PGR - Free Report) closed the most recent trading day at $73.46, moving +0.46% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.53%.
Coming into today, shares of the insurer had gained 6.71% in the past month. In that same time, the Finance sector lost 1.43%, while the S&P 500 lost 2.35%.
Wall Street will be looking for positivity from PGR as it approaches its next earnings report date. This is expected to be January 23, 2019. On that day, PGR is projected to report earnings of $1.05 per share, which would represent year-over-year growth of 32.91%. Meanwhile, our latest consensus estimate is calling for revenue of $8.46 billion, up 18.66% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.81 per share and revenue of $32.11 billion. These totals would mark changes of +82.89% and +19.85%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for PGR. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.44% higher. PGR is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, PGR is currently trading at a Forward P/E ratio of 15.21. This valuation marks a premium compared to its industry's average Forward P/E of 15.12.
Also, we should mention that PGR has a PEG ratio of 2.07. 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 1.35 at yesterday's closing price.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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.
To follow PGR in the coming trading sessions, be sure to utilize Zacks.com.