We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Progressive (PGR) Stock Dips While Market Gains: Key Facts
Read MoreHide Full Article
In the latest trading session, Progressive (PGR - Free Report) closed at $208.49, marking a -0.85% move from the previous day. This change lagged the S&P 500's daily gain of 0.27%. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.88%.
Shares of the insurer have depreciated by 1% over the course of the past month, underperforming the Finance sector's loss of 0.29% and the S&P 500's gain of 2.85%.
Market participants will be closely following the financial results of Progressive in its upcoming release. The company is predicted to post an EPS of $2.51, indicating a 402% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $17.72 billion, showing a 16.4% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.63 per share and a revenue of $72.51 billion, signifying shifts of +90.34% and +17.42%, respectively, from the last 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.68% higher. Progressive is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 18.08. This represents a premium compared to its industry's average Forward P/E of 12.61.
Meanwhile, PGR's PEG ratio is currently 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.53 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Progressive (PGR) Stock Dips While Market Gains: Key Facts
In the latest trading session, Progressive (PGR - Free Report) closed at $208.49, marking a -0.85% move from the previous day. This change lagged the S&P 500's daily gain of 0.27%. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.88%.
Shares of the insurer have depreciated by 1% over the course of the past month, underperforming the Finance sector's loss of 0.29% and the S&P 500's gain of 2.85%.
Market participants will be closely following the financial results of Progressive in its upcoming release. The company is predicted to post an EPS of $2.51, indicating a 402% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $17.72 billion, showing a 16.4% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.63 per share and a revenue of $72.51 billion, signifying shifts of +90.34% and +17.42%, respectively, from the last 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.68% higher. Progressive is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 18.08. This represents a premium compared to its industry's average Forward P/E of 12.61.
Meanwhile, PGR's PEG ratio is currently 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.53 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.