Progressive (PGR) closed at $72.72 in the latest trading session, marking a -0.08% move from the prior day. This change traded in line with S&P 500. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the insurer had gained 0.93% over the past month, outpacing the Finance sector's loss of 2.56% and the S&P 500's gain of 0.52% in that time.
Investors will be hoping for strength from PGR as it approaches its nex t earnings release, which is expected to be April 16, 2019. 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.
PGR's full-year Zacks Consensus Estimates are calling for earnings of $5.07 per share and revenue of $37.49 billion. These results would represent year-over-year changes of +14.71% and +15.75%, respectively.
Investors should also note any recent changes to analyst estimates for PGR. 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 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.29% higher within the past month. PGR is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, PGR is holding a Forward P/E ratio of 14.36. For comparison, its industry has an average Forward P/E of 13.4, which means PGR is trading at a premium to the group.
Meanwhile, PGR's PEG ratio is currently 1.96. 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. PGR's industry had an average PEG ratio of 1.25 as of yesterday's close.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% 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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