Progressive Earnings Preview: What to Expect
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The Progressive Corporation (PGR), headquartered in Mayfield Village, Ohio, ranks among the largest auto insurers in the U.S., recognized for its innovative pricing strategies and direct-to-consumer model. With a market capitalization of $152.2 billion, the company maintains a strong foothold in both personal and commercial insurance segments, offering a broad suite of products ranging from auto, home, and renters insurance to specialty coverage for motorcycles, boats, and RVs. PGR is expected to announce its fiscal Q2 earnings results on Tuesday, July 15.
Ahead of this event, analysts expect the insurance company to report a profit of $4.11 per share, up 55.1% from $2.65 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in three of the past four quarters, while missing the estimate in the most recent quarter.
For fiscal 2025, analysts expect PGR to report an EPS of $16.52, up 17.6% year over year from $14.05 in fiscal 2024. However, in FY2026, the company’s EPS is likely to fall 2.4% annually to $16.13.
PGR shares have rallied 25.7% over the past 52 weeks, substantially outpacing both the S&P 500 Index's ($SPX) 12.1% rise but lagging behind the Financial Select Sector SPDR Fund’s (XLF) 26.3% return over the same period.
On June 9, shares of Progressive fell 4.7% before closing down 2.9%, despite no company-specific news. The decline was driven by broader concerns in the insurance sector, including signs of softening property insurance pricing and analyst downgrades. Additionally, investor concerns over potential property and auto damage from civil unrest in Los Angeles, where Progressive has a strong market presence, also weighed on the stock.
Wall Street analysts are moderately optimistic about PGR’s stock, with a "Moderate Buy" rating overall. Among 21 analysts covering the stock, 12 recommend "Strong Buy," two suggest "Moderate Buy," and seven indicate “Hold.”
The average analyst price target for PGR is $303.89, indicating a 16.2% potential upside from the current levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.