Progressive (PGR) Rises As Market Takes a Dip: Key Facts

In the latest trading session, Progressive (PGR) closed at $204.20, marking a +2.03% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%. The insurer's stock has climbed by 0.86% in the past month, falling short of the Finance sector's gain of 0.94% and outpacing the S&P 500's loss of 0.03%.Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.74, reflecting a 23.36% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $22.88 billion, up 5.84% from the prior-year quarter. For the full year, the Zacks Consensus Estimates are projecting earnings of $16.35 per share and revenue of $92.51 billion, which would represent changes of -10.41% and +6.4%, respectively, from the prior year. Any recent changes to analyst estimates for Progressive should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.28% lower. Progressive is currently a Zacks Rank #3 (Hold). Valuation is also important, so investors should note that Progressive has a Forward P/E ratio of 12.24 right now. This signifies a premium in comparison to the average Forward P/E of 10.73 for its industry. Meanwhile, PGR's PEG ratio is currently 5.8. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Insurance - Property and Casualty was holding an average PEG ratio of 2.32 at yesterday's closing price. The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 34% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks