Bull of the Day: The Progressive Corp. (PGR)
The Progressive Corp, PGR a current Zacks Rank #1 (Strong Buy), is a massive American insurance company. Analysts have taken their earnings expectations higher across the board.
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In addition to favorable earnings estimate revisions, the company resides within the Zacks Insurance – Property & Casualty industry, currently ranked in the top 11% of all Zacks industries. Let’s take a deeper look at the company.
Progressive
It’s worth noting that Progressive shares have been monster performers in general over the last decade, delivering a remarkable 27% annualized return vs. the S&P 500’s 13.4%. Shares saw buying pressure following its latest set of quarterly results, with investors pleased with the release.
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Concerning the above-mentioned quarter, PGR exceeded the Zacks Consensus EPS estimate by 24% and posted a 3% revenue beat, reflecting growth rates of 97% and 23%, respectively. The company’s top line performance has been strong, with revenues enjoying a recent acceleration.
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The stock remains a prime consideration for growth-focused investors, with consensus expectations for its current fiscal year (FY24) suggesting 60% earnings growth on 15% higher sales. Peeking ahead to FY25, expectations currently allude to an additional 12.5% growth in earnings on nearly 13% higher sales.
Keep an eye out for the company’s upcoming quarterly release expected on April 11th, as current consensus expectations allude to a 350% pop in earnings on 16% improved sales. Top line revisions have remained positive, with the $16.5 billion expected up modestly since January.
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Bottom Line
Investors can implement a stellar strategy to find expected winners by taking advantage of the Zacks Rank – one of the most powerful market tools that provides a massive edge.
The top 5% of all stocks receive the highly coveted Zacks Rank #1 (Strong Buy). These stocks should outperform the market more than any other rank.
The Progressive Corp. PGR would be an excellent stock for investors to consider, as displayed by its Zack Rank #1 (Strong Buy).
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The Progressive Corporation (PGR) : Free Stock Analysis Report
