Progressive (PGR) Set to Announce Quarterly Earnings on Wednesday

Progressive (NYSE:PGR) is scheduled to be releasing its earnings data before the market opens on Wednesday, March 14th.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. Progressive had a return on equity of 15.96% and a net margin of 5.93%. The firm’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, analysts expect Progressive to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of Progressive (PGR) opened at $60.37 on Monday. The company has a market capitalization of $35,110.00, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43. Progressive has a 12 month low of $38.61 and a 12 month high of $60.38.

In other news, insider William M. Cody sold 25,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $56.10, for a total value of $1,402,500.00. Following the completion of the sale, the insider now owns 137,722 shares of the company’s stock, valued at $7,726,204.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Several brokerages have commented on PGR. Zacks Investment Research lowered Progressive from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Wells Fargo & Co set a $57.00 price target on Progressive and gave the stock a “hold” rating in a research note on Thursday, March 1st. MKM Partners upped their price target on Progressive from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. UBS Group upped their price target on Progressive from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Credit Suisse Group restated a “hold” rating and set a $48.00 price target on shares of Progressive in a research note on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.65.

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About Progressive

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.

Earnings History for Progressive (NYSE:PGR)

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