Progressive (PGR) Stock Drops Despite Market Gains: Important Facts to Note

Progressive (PGR) ended the recent trading session at $272.86, demonstrating a -0.64% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 0.52%.The insurer's stock has climbed by 2.6% in the past month, exceeding the Finance sector's loss of 2.57% and the S&P 500's loss of 7.33%.Investors will be eagerly watching for the performance of Progressive in its upcoming earnings disclosure. The company is expected to report EPS of $4.39, up 17.69% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $20.43 billion, reflecting a 19.54% rise from the equivalent quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.30 per share and a revenue of $87.31 billion, indicating changes of +8.9% and +16.24%, respectively, from the former 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.08% higher. Progressive is holding a Zacks Rank of #1 (Strong Buy) right now.In the context of valuation, Progressive is at present trading with a Forward P/E ratio of 17.95. This signifies a premium in comparison to the average Forward P/E of 11.88 for its industry.Meanwhile, PGR's PEG ratio is currently 1.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Insurance - Property and Casualty industry had an average PEG ratio of 1.67.The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 37, positioning it in the top 15% 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.To follow PGR in the coming trading sessions, be sure to utilize Zacks.com.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want 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