Progressive (PGR – Free Report) closed at $240.65 in the latest trading session, marking a +0.43% move from the prior day. The stock’s change was more than the S&P 500’s daily loss of 0.22%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.16%.
Coming into today, shares of the insurer had lost 7.97% in the past month. In that same time, the Finance sector lost 5.69%, while the S&P 500 lost 2.36%.
The upcoming earnings release of Progressive will be of great interest to investors. The company is predicted to post an EPS of $3.43, indicating a 15.88% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $19.94 billion, up 20.18% from the year-ago period.
Any recent changes to analyst estimates for Progressive should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.19% higher. Right now, Progressive possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Progressive currently has a Forward P/E ratio of 17.15. This indicates a premium in contrast to its industry’s Forward P/E of 11.72.
We can also see that PGR currently has a PEG ratio of 0.63. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. The average PEG ratio for the Insurance – Property and Casualty industry stood at 1.44 at the close of the market yesterday.
The Insurance – Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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