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Progressive (PGR) Stock Moves -0.89%: What You Should Know
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Progressive (PGR - Free Report) ended the recent trading session at $241.02, demonstrating a -0.89% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.49%.
Shares of the insurer have depreciated by 8.87% over the course of the past month, underperforming the Finance sector's loss of 4.01% and the S&P 500's gain of 0.4%.
The upcoming earnings release of Progressive will be of great interest to investors. The company is predicted to post an EPS of $3.34, indicating a 12.84% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $19.94 billion, showing a 20.18% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.40 per share and a revenue of $74.55 billion, indicating changes of +119.31% and +20.72%, respectively, from the former year.
Any recent changes to analyst estimates for Progressive should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.58% higher. Progressive is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 18.14. This denotes a premium relative to the industry's average Forward P/E of 13.65.
One should further note that PGR currently holds a PEG ratio of 0.66. 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 1.49.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 18, finds itself in the top 8% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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Progressive (PGR) Stock Moves -0.89%: What You Should Know
Progressive (PGR - Free Report) ended the recent trading session at $241.02, demonstrating a -0.89% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.49%.
Shares of the insurer have depreciated by 8.87% over the course of the past month, underperforming the Finance sector's loss of 4.01% and the S&P 500's gain of 0.4%.
The upcoming earnings release of Progressive will be of great interest to investors. The company is predicted to post an EPS of $3.34, indicating a 12.84% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $19.94 billion, showing a 20.18% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.40 per share and a revenue of $74.55 billion, indicating changes of +119.31% and +20.72%, respectively, from the former year.
Any recent changes to analyst estimates for Progressive should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.58% higher. Progressive is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Progressive is presently trading at a Forward P/E ratio of 18.14. This denotes a premium relative to the industry's average Forward P/E of 13.65.
One should further note that PGR currently holds a PEG ratio of 0.66. 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 1.49.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 18, finds itself in the top 8% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.