For its second fiscal quarter (ending June 30), The Progressive Corp (NYSE: PGR) has reported a 339% increase in E.P.S. from $0.57 a year ago to $2.50 in the current quarter. This result exceeded the consensus estimate of $2.09 by $0.41. E.P.S. were $11.73 for the latest four quarters through June 30 versus $2.93 for the same period a year ago — an increase of 300%.
Recent Price Action
On 7/16/24, The Progressive Corp (NYSE: PGR) stock declined by -3.3%, closing at $210.00. Moreover, unusually high trading volume at 150% of normal accompanied the decline. Relative to the market the stock has been exceptionally strong over the last nine months and is unchanged during the last week.
Current PriceTarget Research Rating
PGR’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Progressive has a current Value Trend Rating of B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Progressive has a neutral Appreciation Score of 41 but a very high Power Rating of 95, triggering the Positive Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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