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Progressive (PGR) Declines More Than Market: Some Information for Investors
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Progressive (PGR - Free Report) ended the recent trading session at $203.15, demonstrating a -0.99% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.74% for the day. At the same time, the Dow lost 1.06%, and the tech-heavy Nasdaq lost 0.58%.
Prior to today's trading, shares of the insurer had lost 1.47% over the past month. This has lagged the Finance sector's gain of 2.34% and the S&P 500's gain of 4.27% in that time.
The investment community will be closely monitoring the performance of Progressive in its forthcoming earnings report. The company is predicted to post an EPS of $2.49, indicating a 398% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $17.71 billion, reflecting a 16.34% rise from the equivalent quarter last year.
PGR's full-year Zacks Consensus Estimates are calling for earnings of $11.65 per share and revenue of $72.46 billion. These results would represent year-over-year changes of +90.67% and +17.34%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Progressive. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, there's been a 1.34% rise in the Zacks Consensus EPS estimate. Right now, Progressive possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Progressive is currently exchanging hands at a Forward P/E ratio of 17.61. This signifies a premium in comparison to the average Forward P/E of 13.13 for its industry.
We can additionally observe that PGR currently boasts a PEG ratio of 0.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Insurance - Property and Casualty industry had an average PEG ratio of 1.54 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 62, which puts it in the top 25% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Progressive (PGR) Declines More Than Market: Some Information for Investors
Progressive (PGR - Free Report) ended the recent trading session at $203.15, demonstrating a -0.99% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.74% for the day. At the same time, the Dow lost 1.06%, and the tech-heavy Nasdaq lost 0.58%.
Prior to today's trading, shares of the insurer had lost 1.47% over the past month. This has lagged the Finance sector's gain of 2.34% and the S&P 500's gain of 4.27% in that time.
The investment community will be closely monitoring the performance of Progressive in its forthcoming earnings report. The company is predicted to post an EPS of $2.49, indicating a 398% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $17.71 billion, reflecting a 16.34% rise from the equivalent quarter last year.
PGR's full-year Zacks Consensus Estimates are calling for earnings of $11.65 per share and revenue of $72.46 billion. These results would represent year-over-year changes of +90.67% and +17.34%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Progressive. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, there's been a 1.34% rise in the Zacks Consensus EPS estimate. Right now, Progressive possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Progressive is currently exchanging hands at a Forward P/E ratio of 17.61. This signifies a premium in comparison to the average Forward P/E of 13.13 for its industry.
We can additionally observe that PGR currently boasts a PEG ratio of 0.78. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Insurance - Property and Casualty industry had an average PEG ratio of 1.54 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 62, which puts it in the top 25% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.