Progressive (PGR - Free Report) closed at $79.28 in the latest trading session, marking a -1.07% move from the prior day. This change was narrower than the S&P 500's 1.32% loss on the day. Elsewhere, the Dow lost 1.41%, while the tech-heavy Nasdaq lost 1.51%.
Prior to today's trading, shares of the insurer had gained 6.06% over the past month. This has outpaced the Finance sector's loss of 4.91% and the S&P 500's loss of 5.09% in that time.
PGR will be looking to display strength as it nears its next earnings release. On that day, PGR is projected to report earnings of $1.35 per share, which would represent year-over-year growth of 13.45%. Meanwhile, our latest consensus estimate is calling for revenue of $9.21 billion, up 15.38% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.20 per share and revenue of $37.71 billion, which would represent changes of +17.65% and +16.43%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for PGR. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, the Zacks Consensus EPS estimate has moved 0.49% higher. PGR currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that PGR has a Forward P/E ratio of 15.42 right now. For comparison, its industry has an average Forward P/E of 13.81, which means PGR is trading at a premium to the group.
We can also see that PGR currently has a PEG ratio of 2.1. 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. PGR's industry had an average PEG ratio of 1.41 as of yesterday's close.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.