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) Exceeds Market Returns: Some Facts to Consider
Read MoreHide Full Article
Progressive (PGR - Free Report) closed the latest trading day at $255.36, indicating a +1.22% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.9% for the day. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 1.22%.
The the stock of insurer has risen by 1.09% in the past month, leading the Finance sector's gain of 0.34% and undershooting the S&P 500's gain of 3.15%.
Market participants will be closely following the financial results of Progressive in its upcoming release. It is anticipated that the company will report an EPS of $3.33, marking a 59.33% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $18.92 billion, up 20.44% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.01 per share and revenue of $73.91 billion, indicating changes of +112.93% and +19.69%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Progressive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 6.68% higher within the past month. Currently, Progressive is carrying a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Progressive is at present trading with a Forward P/E ratio of 19.39. This represents a premium compared to its industry's average Forward P/E of 13.57.
Meanwhile, PGR's PEG ratio is currently 0.7. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.7 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 16, positioning it in the top 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Progressive (PGR) Exceeds Market Returns: Some Facts to Consider
Progressive (PGR - Free Report) closed the latest trading day at $255.36, indicating a +1.22% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.9% for the day. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 1.22%.
The the stock of insurer has risen by 1.09% in the past month, leading the Finance sector's gain of 0.34% and undershooting the S&P 500's gain of 3.15%.
Market participants will be closely following the financial results of Progressive in its upcoming release. It is anticipated that the company will report an EPS of $3.33, marking a 59.33% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $18.92 billion, up 20.44% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.01 per share and revenue of $73.91 billion, indicating changes of +112.93% and +19.69%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Progressive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 6.68% higher within the past month. Currently, Progressive is carrying a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Progressive is at present trading with a Forward P/E ratio of 19.39. This represents a premium compared to its industry's average Forward P/E of 13.57.
Meanwhile, PGR's PEG ratio is currently 0.7. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.7 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 16, positioning it in the top 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.