Analysts Estimate Report : What to Look Out for Progressive (NYSE:PGR)

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Earnings results for Progressive (NYSE:PGR)

Progressive Corporation (The) is expected* to report earnings on 10/14/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.69. The reported EPS for the same quarter last year was $1.42.

Progressive last issued its earnings results on July 15th, 2020. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. The firm earned $10.14 billion during the quarter, compared to analyst estimates of $9.72 billion. Its revenue for the quarter was up 11.1% compared to the same quarter last year. Progressive has generated $6.72 earnings per share over the last year and currently has a price-to-earnings ratio of 13.5. Progressive has confirmed that its next quarterly earnings report will be published on Wednesday, October 14th, 2020.

Analyst Opinion on Progressive (NYSE:PGR)

15 Wall Street analysts have issued ratings and price targets for Progressive in the last 12 months. Their average twelve-month price target is $89.08, predicting that the stock has a possible downside of 11.16%. The high price target for PGR is $115.00 and the low price target for PGR is $72.00. There are currently 1 sell rating, 8 hold ratings, 5 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Hold.”

Progressive has received a consensus rating of Hold. The company’s average rating score is 2.40, and is based on 5 buy ratings, 8 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $89.08, Progressive has a forecasted downside of 11.2% from its current price of $100.27. Progressive has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Progressive (NYSE:PGR)

Progressive has a dividend yield of 0.39%, which is in the bottom 25% of all stocks that pay dividends. Progressive has only been increasing its dividend for 1 years. The dividend payout ratio of Progressive is 5.95%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Progressive will have a dividend payout ratio of 7.33% next year. This indicates that Progressive will be able to sustain or increase its dividend.

Insiders buying/selling: Progressive (NYSE:PGR)

In the past three months, Progressive insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $10,012,980.00 in company stock. Only 0.38% of the stock of Progressive is held by insiders. 80.93% of the stock of Progressive is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Progressive (NYSE:PGR

Earnings for Progressive are expected to decrease by -19.11% in the coming year, from $6.75 to $5.46 per share. The P/E ratio of Progressive is 13.48, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.81. The P/E ratio of Progressive is 13.48, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.66. Progressive has a PEG Ratio of 2.31. PEG Ratios above 1 indicate that a company could be overvalued. Progressive has a P/B Ratio of 4.45. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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