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Progressive (PGR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Progressive (PGR - Free Report) ending at $252.27, denoting a -0.85% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.17%. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.04%.
The the stock of insurer has risen by 0.2% in the past month, leading the Finance sector's loss of 0.26% and undershooting the S&P 500's gain of 1.25%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company is expected to report EPS of $3.33, up 59.33% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $18.92 billion, showing a 20.44% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.01 per share and revenue of $73.91 billion. These totals would mark changes of +112.93% and +19.69%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Progressive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 6.65% rise in the Zacks Consensus EPS estimate. Progressive is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Progressive currently has a Forward P/E ratio of 19.56. This valuation marks a premium compared to its industry's average Forward P/E of 13.72.
We can additionally observe that PGR currently boasts a PEG ratio of 0.71. 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. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.71 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 21, placing it within the top 9% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Progressive (PGR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Progressive (PGR - Free Report) ending at $252.27, denoting a -0.85% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.17%. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.04%.
The the stock of insurer has risen by 0.2% in the past month, leading the Finance sector's loss of 0.26% and undershooting the S&P 500's gain of 1.25%.
Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company is expected to report EPS of $3.33, up 59.33% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $18.92 billion, showing a 20.44% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.01 per share and revenue of $73.91 billion. These totals would mark changes of +112.93% and +19.69%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Progressive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 6.65% rise in the Zacks Consensus EPS estimate. Progressive is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Progressive currently has a Forward P/E ratio of 19.56. This valuation marks a premium compared to its industry's average Forward P/E of 13.72.
We can additionally observe that PGR currently boasts a PEG ratio of 0.71. 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. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.71 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 21, placing it within the top 9% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.