The Progressive Given Average Recommendation of “Hold” by Brokerages (NYSE:PGR)
Shares of The Progressive (NYSE:PGR) have received a consensus rating of “Hold” from the eleven brokerages that are covering the stock, AR Network reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $24.75.
The Progressive (NYSE:PGR) opened at 23.44 on Monday. The Progressive has a 52-week low of $22.53 and a 52-week high of $28.54. The stock has a 50-day moving average of $24.82 and a 200-day moving average of $24.44. The company has a market cap of $13.865 billion and a price-to-earnings ratio of 12.40.
The Progressive (NYSE:PGR) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.01. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that The Progressive will post $1.62 EPS for the current fiscal year.
PGR has been the subject of a number of recent research reports. Analysts at Nomura reiterated a “reduce” rating on shares of The Progressive in a research note on Friday, July 18th. Separately, analysts at Evercore Partners upgraded shares of The Progressive from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, July 15th. They now have a $25.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of The Progressive in a research note on Monday, July 14th. They now have a $26.00 price target on the stock.
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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