Progressive (PGR) closed the most recent trading day at $73.06, moving -0.75% from the previous trading session. This change lagged the S&P 500's 0.37% gain on the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.34%.
Heading into today, shares of the insurer had gained 4.1% over the past month, outpacing the Finance sector's gain of 0.92% and the S&P 500's gain of 1.83% in that time.
Wall Street will be looking for positivity from PGR as it approaches its next earnings report date. The company is expected to report EPS of $1.38, up 13.11% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.88 billion, up 18.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.07 per share and revenue of $37.49 billion. These totals would mark changes of +14.71% and +15.75%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for PGR. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 0.67% higher. PGR is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, PGR is holding a Forward P/E ratio of 14.52. This valuation marks a premium compared to its industry's average Forward P/E of 13.24.
We can also see that PGR currently has a PEG ratio of 1.98. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Property and Casualty was holding an average PEG ratio of 1.23 at yesterday's closing price.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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