Progressive (PGR) to Release Quarterly Earnings on Wednesday
Progressive (NYSE:PGR) is scheduled to be announcing its earnings results before the market opens on Wednesday, January 24th. Analysts expect the company to announce earnings of $0.77 per share for the quarter.
Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Progressive had a net margin of 5.41% and a return on equity of 15.40%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, analysts expect Progressive to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Progressive (NYSE:PGR) opened at $56.27 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. The firm has a market cap of $32,730.00, a P/E ratio of 23.45, a P/E/G ratio of 2.38 and a beta of 0.94. Progressive has a 1 year low of $35.85 and a 1 year high of $57.18.
A number of equities analysts recently weighed in on the stock. Wells Fargo & Co set a $55.00 price objective on shares of Progressive and gave the stock a “hold” rating in a research report on Wednesday, December 13th. MKM Partners increased their price objective on shares of Progressive to $65.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Credit Suisse Group reaffirmed a “hold” rating and set a $48.00 price objective on shares of Progressive in a research report on Friday, December 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $60.00 price objective on shares of Progressive in a research report on Wednesday, December 6th. Finally, Goldman Sachs Group assumed coverage on shares of Progressive in a research report on Monday, December 4th. They set a “buy” rating and a $57.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Progressive presently has a consensus rating of “Hold” and an average target price of $50.41.
ILLEGAL ACTIVITY NOTICE: “Progressive (PGR) to Release Quarterly Earnings on Wednesday” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/17/progressive-pgr-to-release-quarterly-earnings-on-wednesday.html.
The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.
Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.