Progressive is expected to post earnings of $4.01 per share for the current quarter, a decline of 1% from the year-ago quarter, while the Zacks Consensus Estimate has risen 10.8% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $17.76 points to a change of -2.7% from the prior year and has moved +1.7% over the last 30 days, and for the next fiscal year the consensus estimate of $16.14 indicates a change of -9.1% and has changed -0.3% over the past month. On revenue, the consensus sales estimate of $23.29 billion for the current quarter points to a year-over-year change of +4.8%, while the $92.26 billion and $97.22 billion estimates for the current and next fiscal years indicate changes of +6.1% and +5.4%, respectively. Progressive reported revenues of $23.01 billion in the last reported quarter, up 6.4% year over year, with EPS of $4.85 versus $4.88 a year ago, a revenue surprise of -0.37% against the Zacks Consensus Estimate of $23.09 billion and an EPS surprise of +3.19%. Based on the size of the recent consensus estimate change and three other earnings-estimate factors, Progressive is rated Zacks Rank #3 (Hold), and it is graded B on the Zacks Value Style Score.
Progressive CorpZacks Rank #3 (Hold) with consensus EPS estimate up 10.8% over 30 days, but expected quarterly EPS down 1% YoY and next-year estimate down 9.1%.
