The Progressive Corp (NYSE: PGR) has reported E.P.S. of $3.95 for its first fiscal quarter (ending March 31) versus $0.75 for the same period a year ago. For the latest four quarters through March 31, E.P.S. were $9.80 compared to $1.41 a year ago.
Recent Price Action
On 4/12/24, The Progressive Corp (NYSE: PGR) stock rose modestly by 0.8%, closing at $203.90. Moreover, trading volume in this advance was unusually high at 199% of normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -2.6% during the last week.
Current PriceTarget Research Rating
PGR is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Progressive has a current Value Trend Rating of B (Positive). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Progressive has a slightly negative Appreciation Score of 35 but a very high Power Rating of 99, resulting in the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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