The Progressive Receives Average Rating of “Hold” from Brokerages (NYSE:PGR)
Shares of The Progressive (NYSE:PGR) have received a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the company, Analyst Ratings.Net reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $24.94.
The Progressive (NYSE:PGR) traded down 0.04% on Thursday, hitting $24.60. 447,993 shares of the company’s stock traded hands. The Progressive has a one year low of $22.53 and a one year high of $28.54. The stock has a 50-day moving average of $24.09 and a 200-day moving average of $25.23. The company has a market cap of $14.590 billion and a price-to-earnings ratio of 12.56.
The Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.15. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts expect that The Progressive will post $1.57 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of The Progressive in a research note on Friday, April 11th. They now have a $25.00 price target on the stock. Separately, analysts at William Blair upgraded shares of The Progressive from a “market perform” rating to an “outperform” rating in a research note on Friday, March 21st. Finally, analysts at Deutsche Bank cut their price target on shares of The Progressive from $22.00 to $21.00 in a research note on Tuesday, February 18th.
The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and mutual insurance company affiliate provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services.
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