The Progressive Given Average Rating of “Hold” by Analysts (NYSE:PGR)
The Progressive (NYSE:PGR) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, American Banking & Market News reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $24.83.
Shares of The Progressive (NYSE:PGR) opened at 25.06 on Thursday. 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 $24.25 and a 200-day moving average of $24.48. The company has a market cap of $14.822 billion and a P/E ratio of 13.13.
The Progressive (NYSE:PGR) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that The Progressive will post $1.65 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs upgraded shares of The Progressive from a “neutral” rating to a “buy” rating in a research note on Tuesday. They now have a $28.00 price target on the stock, up previously from $27.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Progressive in a research note on Friday, August 22nd. They now have a $26.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of The Progressive in a research note on Thursday, August 14th. They now have a $23.00 price target on the stock, up previously from $22.50.
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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