Progressive reports Q3 results October 16

What's Happening With PGR View more about PGR >

Insurance provider Progressive (PGR) will announce its third-quarter numbers on October 16. The company will report its quarterly results before the market open, with the consensus calling for earnings of $1.14 per share. During the same period last year the company earned 41 cents and the stock has risen 19.8% year to date.

Technical Analysis

PGR was recently trading at $66.32 down $5.70 from its 12-month high and $18.43 above its 12-month low. InvestorsObserver’s Stock Score Report gives PGR a 95 long-term technical score and a 79 short-term technical score. The stock has recent support above $63 and recent resistance below $70. Of the 15 analysts who cover the stock 6 rate it Strong Buy, 0 rate it Buy, 8 rate it Hold, 0 rate it Sell, and 1 rate it Strong Sell. PGR gets a score of 71 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

PGR sold off with the overall market this week, but I expect to the stock to quickly make back its recent losses when the overall market stabilizes and shares to resume their upward trend as long as there are no negative surprises in the earnings report. Rising interest rates are great for insurance companies since they are able to earn more interest income on customer premiums that they invest before needed to payout customer claims. The company has a solid earnings track record and the street expects another solid report with a whisper number of $1.18, which is $0.04 above the consensus. Earnings are forecast to rise 86% during the current year and by an average 24% annually over the next five years. Analysts have a $67.91 average price target on the stock.

About Progressive Corporation (The)

Progressive underwrites private and commercial auto insurance and specialty lines; it has roughly 20 million policies in force and is the fourth- largest auto insurer in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the Internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company entered homeowners insurance through an acquisition in 2015.

  • Last Price:
  • Previous Close:
  • Change:
    $-2.10 (-2.80%)
  • Open:
  • Volume:
  • Average Volume (100 Day):
  • Market Capitalization:
    $42.6 B
  • Day's Range:
    $69.38 - $73.47
  • Dividend Yield:
  • 52-week Range:
    $85 - $56.71
  • P-E:
  • EPS:
  • Earnings Date:
  • Ex Dividend Date:
  • Sector:
    Financial Services
  • Industry:
    Insurance - Property & Casualty
  • Analyst Average Recommendation:
    Moderate Buy

Already a member?

Login to see your Stocks to Watch Trade Ideas.

Not yet a member?

Receive a Morning Action trade idea every market day in the Morning Update, plus Stocks to Watch Trade Ideas every Saturday.

Become A Member