Why The Progressive Corporation [PGR] Stock Still Has Countless Sunny Days Ahead

The Progressive Corporation [PGR] shares are up more than 26.68% this year and recently decreased -0.01% or -$0.9 to settle at $88.30. Analysts expect PGR to grow earnings at a 1.90% annual rate over the next 5 years. PGR has a short ratio of 2.33. This implies that the market is currently less bearish on the outlook for PGR.

On 24, November 2020, Progressive Reports October 2020 Results. According to news published on Yahoo Finance, The Progressive Corporation (NYSE:PGR) today reported the following results for October 2020:.

Analyst Birdseye View:

The most recent analyst activity for The Progressive Corporation [NYSE:PGR] stock was on November 17, 2020, when it was Initiated with an Underweight rating from Barclays, which also raised its 12-month price target on the stock to $87. Before that, on December 02, 2020, Keefe Bruyette Recapitulated a Mkt perform rating and elevated its amount target to $88. On October 15, 2020, Morgan Stanley Downgrade an Equal-weight rating and boosted its price target on this stock to $102. On September 22, 2020, Keefe Bruyette Upgrade an Outperform rating and increased its price target to $87. On August 13, 2020, Argus Downgrade a Hold rating. On June 11, 2020, Piper Sandler Downgrade a Neutral rating. On June 01, 2020, BofA/Merrill Resumed a Buy rating. Morgan Stanley elevated its amount target by recapitulating a higher weight for this stock.

In the past 52 weeks of trading, this stock has oscillated between a low of $62.18 and a peak of $102.05. Right now, the middling Wall Street analyst 12-month amount mark is $98.50. At the most recent market close, shares of The Progressive Corporation [NYSE:PGR] were valued at $88.30. According to the average price forecast, investors can expect a potential return of -1.08%.

FUNDAMENTAL ANALYSIS

The Progressive Corporation [NYSE:PGR] most recently reported quarterly sales of 10.94 billion, which represented growth of 14.90%. This publicly-traded organization’s revenue is $939,597 per employee, while its income is $95,506 per employee. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 8.00, 32.42, 31.89 and 23.75 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 25.21 and the whole liability to whole assets at 8.40. It shows enduring liability to the whole principal at 24.78 and enduring liability to assets at 0.08 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 87.62 points at 1st support level, the second support level is making up to 86.94. But as of 1st resistance point, this stock is sitting at 89.14 and at 89.98 for 2nd resistance point.

The Progressive Corporation [PGR] reported its earnings at $1.89 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $1.72/share signifying the difference of 0.17 and 9.90% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were $1.84 calling estimates for $1.73/share with the difference of 0.11 depicting the surprise of 6.40%.

Now if looking for a valuation of this stock’s amount to sales ratio it’s 1.09, it’s amount to book ratio is 3.21 and showing 10.24 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by Charney M Jeffrey, Chief Marketing Officer, and it was the sale of 5858.0 shares on Dec 01. Broz Steven, the Chief Information Officer, completed a sale of 3292.0 shares on Nov 20. On Nov 19, Griffith Susan Patricia, President and CEO, completed a sale of 33750.0 shares.