Progressive Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Progressive Corporation (NYSE:PGR) is anticipated to release its Q1 earnings on April 12, 2024, with analysts forecasting a significant increase in earnings per share to $3.17 from 65 cents the previous year, and revenue expected to rise to $17.43 billion from $15.87 billion. Following a report of February earnings of $1.24 per share and net income of $737.1 million, PGR's stock fell 1.9% to $202.26. Analysts from Wells Fargo, Keefe, Bruyette & Woods, B of A Securities, Piper Sandler, and Citigroup have recently updated their ratings and price targets for PGR.
April 12, 2024 | 5:27 am
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Progressive Corporation is set for its Q1 earnings release with a notable expected increase in EPS and revenue. Recent analyst updates show a positive outlook, despite a recent stock price dip.
The significant expected increase in EPS and revenue for Progressive Corporation indicates a strong financial performance, which typically has a positive impact on stock prices. The recent dip in stock price following the February earnings report may offer a buying opportunity ahead of the earnings release. Analyst ratings and price target adjustments further support a bullish outlook for PGR in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100