The Progressive Corp (NYSE: PGR) has reported earnings for its third fiscal quarter (ending September 30) of $3.98 versus $1.90 for the same period a year ago — an increase of 109%. This result exceeded the consensus estimate of $3.60 by $0.38. For the latest four quarters through September 30, E.P.S. were $13.81 versus $4.63 for the same period a year ago — an increase of 198%.
Recent Price Action
The Progressive Corp (NYSE: PGR) stock closed at $251.60 on 10/15/24 after a slight decline of -0.1%. Moreover, trading volume in this decline was unusually high at 173% of normal. The stock has risen 2.5% during the last week and has been exceptionally strong relative to the market over the last nine months.
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 C (High Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Progressive has a slightly negative Appreciation Score of 34 but a very high Power Rating of 87, and the High Neutral Value Trend Rating results.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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