Progressive (NYSE:PGR) posted its quarterly earnings data on Tuesday. The insurance provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10, Fidelity Earnings reports. The firm had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Progressive had a net margin of 5.93% and a return on equity of 15.96%. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 EPS.
Shares of NYSE:PGR opened at $62.28 on Wednesday. Progressive has a one year low of $38.61 and a one year high of $62.78. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.36. The company has a market cap of $34,977.32, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.22 and a beta of 0.65.
Several equities research analysts have weighed in on PGR shares. Zacks Investment Research cut shares of Progressive from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Wells Fargo set a $57.00 price objective on shares of Progressive and gave the company a “hold” rating in a research report on Wednesday, February 14th. UBS raised their price objective on shares of Progressive from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. ValuEngine upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, MKM Partners raised their price objective on shares of Progressive to $70.00 and gave the company a “buy” rating in a research report on Tuesday, March 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $51.56.
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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