News coverage about Progressive (NYSE:PGR) has been trending somewhat positive this week, Accern reports. Accern identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Progressive earned a coverage optimism score of 0.23 on Accern’s scale. Accern also assigned news coverage about the insurance provider an impact score of 46.4302932370641 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
Shares of Progressive stock traded up $0.51 during mid-day trading on Thursday, reaching $60.50. 1,119,846 shares of the stock traded hands, compared to its average volume of 3,600,337. Progressive has a fifty-two week low of $38.61 and a fifty-two week high of $62.74. The stock has a market capitalization of $35,163.64, a P/E ratio of 22.96, a PEG ratio of 2.23 and a beta of 0.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.43 and a quick ratio of 0.43.
Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Progressive had a return on equity of 15.96% and a net margin of 5.93%. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. research analysts anticipate that Progressive will post 3.7 EPS for the current fiscal year.
A number of brokerages have issued reports on PGR. Wells Fargo set a $61.00 price target on Progressive and gave the stock a “hold” rating in a research report on Monday, April 2nd. UBS increased their price target on Progressive from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research downgraded Progressive from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. ValuEngine upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, MKM Partners increased their price target on Progressive to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, March 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $51.56.
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Progressive Company Profile
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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