We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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 Slides as Market Rises: Facts to Know Before You Trade
Read MoreHide Full Article
Progressive (PGR - Free Report) closed the most recent trading day at $210.28, moving -1.06% from the previous trading session. This change lagged the S&P 500's daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 0.35%.
The insurer's shares have seen a decrease of 1.5% over the last month, not keeping up with the Finance sector's gain of 0.75% and the S&P 500's gain of 3.25%.
The investment community will be paying close attention to the earnings performance of Progressive in its upcoming release. The company's upcoming EPS is projected at $2.53, signifying a 406% increase compared to the same quarter of the previous 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.64 per share and a revenue of $72.53 billion, indicating changes of +90.51% and +17.45%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Progressive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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, the Zacks Consensus EPS estimate has moved 1.82% higher. Progressive currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Progressive is currently exchanging hands at a Forward P/E ratio of 18.25. This indicates a premium in contrast to its industry's Forward P/E of 12.59.
One should further note that PGR currently holds a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 1.54.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Progressive (PGR) Stock Slides as Market Rises: Facts to Know Before You Trade
Progressive (PGR - Free Report) closed the most recent trading day at $210.28, moving -1.06% from the previous trading session. This change lagged the S&P 500's daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 0.35%.
The insurer's shares have seen a decrease of 1.5% over the last month, not keeping up with the Finance sector's gain of 0.75% and the S&P 500's gain of 3.25%.
The investment community will be paying close attention to the earnings performance of Progressive in its upcoming release. The company's upcoming EPS is projected at $2.53, signifying a 406% increase compared to the same quarter of the previous 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.64 per share and a revenue of $72.53 billion, indicating changes of +90.51% and +17.45%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Progressive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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, the Zacks Consensus EPS estimate has moved 1.82% higher. Progressive currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Progressive is currently exchanging hands at a Forward P/E ratio of 18.25. This indicates a premium in contrast to its industry's Forward P/E of 12.59.
One should further note that PGR currently holds a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 1.54.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% 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.