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Progressive (PGR) Stock Moves -0.4%: What You Should Know
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Progressive (PGR - Free Report) closed the most recent trading day at $242.76, moving -0.4% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.54%. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 0.66%.
Prior to today's trading, shares of the insurer had lost 6.75% over the past month. This has lagged the Finance sector's gain of 0.08% and the S&P 500's gain of 1.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Progressive in its upcoming earnings disclosure. In that report, analysts expect Progressive to post earnings of $3.16 per share. This would mark year-over-year growth of 6.76%. At the same time, our most recent consensus estimate is projecting a revenue of $19.84 billion, reflecting a 19.62% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.20 per share and revenue of $74.35 billion, which would represent changes of +116.04% and +20.4%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Progressive. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.63% higher within the past month. Progressive currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Progressive currently has a Forward P/E ratio of 18.47. This indicates a premium in contrast to its industry's Forward P/E of 13.7.
We can also see that PGR currently has a PEG ratio of 0.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 1.41.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Progressive (PGR) Stock Moves -0.4%: What You Should Know
Progressive (PGR - Free Report) closed the most recent trading day at $242.76, moving -0.4% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.54%. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 0.66%.
Prior to today's trading, shares of the insurer had lost 6.75% over the past month. This has lagged the Finance sector's gain of 0.08% and the S&P 500's gain of 1.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Progressive in its upcoming earnings disclosure. In that report, analysts expect Progressive to post earnings of $3.16 per share. This would mark year-over-year growth of 6.76%. At the same time, our most recent consensus estimate is projecting a revenue of $19.84 billion, reflecting a 19.62% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.20 per share and revenue of $74.35 billion, which would represent changes of +116.04% and +20.4%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Progressive. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.63% higher within the past month. Progressive currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Progressive currently has a Forward P/E ratio of 18.47. This indicates a premium in contrast to its industry's Forward P/E of 13.7.
We can also see that PGR currently has a PEG ratio of 0.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 1.41.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.