Progressive Earnings Preview: Analysts Expect Rising Revenue, Falling EPS
Benzinga 15 years ago
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Progressive (NYSE: PGR) unveils its next round of earnings this Monday, November 7, 2011. Here is Benzinga's everything-that-matters guide for this Monday's fourth quarter earnings announcement.
Earnings and Revenue:
Analysts are predicting an EPS reading of 38 cents/share and revenues of $3.41 billion. Progressive's latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of 45 cents/share on revenues of $3.28 billion. We'll have to wait for Monday to see if the company reports a decline in EPS and a boost in revenue from the year-ago quarter, as analysts are predicting.Here's how the company's reported EPS has stacked up against analyst estimates in the past:
| Quarter | Q3 | Q2 | Q1 | Q4 |
| EPS Estimate | $0.27 | $0.39 | $0.43 | $0.36 |
| EPS Actual | $0.24 | $0.38 | $0.45 | $0.45 |
Stock Performance:
As of November 1, 2011, Progressive's current share price was $18.39. Since January 1st, shares have declined 5.5%. For a full 12 months, the return has declined by 5.1%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.- Long-term shareholders are already wary of 12-month losses prior to the announcement
Average Stock Rating:
The average rating by analysts is a Moderate Buy. The strength of this rating has risen over the past three months.Competitors:
Looking for a sympathy stock to trade or interested in the performance of other companies in the same sector? Take a look at some of Progressive's peers.- Allstate (NYSE: ALL): Hold with a $0.16 recent quarter EPS
- Horace Mann Educators (NYSE: HMN): Moderate Buy with a $0.23 recent quarter EPS
- Infinity Property and Casualty (NASDAQ: IPCC): Moderate Sell with a $0.44 recent quarter EPS
- First Acceptance (NYSE: FAC): -$0.02 recent quarter EPS
Progressive is in the insurance-property and casualty industry, which has experienced price/earnings growth of 2.8%.
Finally, a description of the company's main areas of operation: Progressive is an insurance holding company that provides personal and commercial automobile insurance and other property-casualty insurance throughout the U.S.
Take Action:
Now that you have reviewed all the numbers, be ready to move if the upcoming Progressive earnings report has any surprises. Also, come back to Benzinga after the announcement for a full recap and a guide to your next steps.