Progressive (PGR) Stock Declines While Market Improves: Some Information for Investors

Progressive (PGR) ended the recent trading session at $273.43, demonstrating a -1.83% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.01%. Meanwhile, the Dow experienced a drop of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.26%.The the stock of insurer has risen by 13.66% in the past month, leading the Finance sector's loss of 0.09% and the S&P 500's loss of 2.26%.The investment community will be paying close attention to the earnings performance of Progressive in its upcoming release. The company is expected to report EPS of $3.99, up 6.97% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $20.59 billion, indicating a 20.5% growth compared to the corresponding quarter of the prior year.For the full year, the Zacks Consensus Estimates project earnings of $14.79 per share and a revenue of $87.49 billion, demonstrating changes of +5.27% and +16.48%, respectively, from the preceding year.It's also important for investors to be aware of any recent modifications to analyst estimates for Progressive. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.43% upward. Right now, Progressive possesses a Zacks Rank of #2 (Buy).From a valuation perspective, Progressive is currently exchanging hands at a Forward P/E ratio of 18.83. This signifies a premium in comparison to the average Forward P/E of 11.08 for its industry.We can additionally observe that PGR currently boasts a PEG ratio of 1.76. 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. By the end of yesterday's trading, the Insurance - Property and Casualty industry had an average PEG ratio of 1.94.The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. 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 UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Progressive Corporation (PGR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks