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Progressive (PGR) Ascends While Market Falls: Some Facts to Note
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Progressive (PGR - Free Report) closed at $242.45 in the latest trading session, marking a +0.5% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.32%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.85%.
The insurer's shares have seen an increase of 11.86% over the last month, surpassing the Finance sector's gain of 2.55% and the S&P 500's gain of 1.52%.
The upcoming earnings release of Progressive will be of great interest to investors. The company's upcoming EPS is projected at $2.76, signifying a 32.06% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $18.9 billion, up 20.3% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.19 per share and revenue of $73.58 billion, indicating changes of +99.51% and +19.15%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Progressive. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.45% rise in the Zacks Consensus EPS estimate. Progressive is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Progressive is at present trading with a Forward P/E ratio of 19.79. This expresses a premium compared to the average Forward P/E of 12.96 of its industry.
Investors should also note that PGR has a PEG ratio of 0.81 right now. 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 average PEG ratio for the Insurance - Property and Casualty industry stood at 1.59 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Progressive (PGR) Ascends While Market Falls: Some Facts to Note
Progressive (PGR - Free Report) closed at $242.45 in the latest trading session, marking a +0.5% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.32%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.85%.
The insurer's shares have seen an increase of 11.86% over the last month, surpassing the Finance sector's gain of 2.55% and the S&P 500's gain of 1.52%.
The upcoming earnings release of Progressive will be of great interest to investors. The company's upcoming EPS is projected at $2.76, signifying a 32.06% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $18.9 billion, up 20.3% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.19 per share and revenue of $73.58 billion, indicating changes of +99.51% and +19.15%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Progressive. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.45% rise in the Zacks Consensus EPS estimate. Progressive is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Progressive is at present trading with a Forward P/E ratio of 19.79. This expresses a premium compared to the average Forward P/E of 12.96 of its industry.
Investors should also note that PGR has a PEG ratio of 0.81 right now. 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 average PEG ratio for the Insurance - Property and Casualty industry stood at 1.59 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.