Progressive (PGR) Stock Moves -0.66%: What You Should Know

In the latest trading session, Progressive (PGR) closed at $283.19, marking a -0.66% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 1.22% for the day. Meanwhile, the Dow lost 1.55%, and the Nasdaq, a tech-heavy index, lost 0.35%.Shares of the insurer witnessed a gain of 14.53% over the previous month, beating the performance of the Finance sector with its gain of 0.91% and the S&P 500's loss of 2.31%.Market participants will be closely following the financial results of Progressive in its upcoming release. The company's earnings per share (EPS) are projected to be $4.22, reflecting a 13.14% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $20.5 billion, indicating a 19.96% increase compared to the same quarter of the previous year.For the full year, the Zacks Consensus Estimates project earnings of $15.08 per share and a revenue of $87.47 billion, demonstrating changes of +7.33% and +16.46%, respectively, from the preceding year.It is also important to note the recent changes to analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.52% higher. Progressive presently features a Zacks Rank of #1 (Strong Buy).Valuation is also important, so investors should note that Progressive has a Forward P/E ratio of 18.91 right now. This expresses a premium compared to the average Forward P/E of 11.44 of its industry.Investors should also note that PGR has a PEG ratio of 1.77 right now. 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 industry had an average PEG ratio of 1.77 as trading concluded yesterday.The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual 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.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