Progressive Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

The Progressive Corporation PGR is expected to release earnings results for its first quarter, before the opening bell on April 12, 2024.

Analysts expect the Mayfield Village, Ohio-based company to report quarterly earnings at $3.17 per share, up sharply from 65 cents per share in the year-ago quarter. Progressive is projected to report quarterly revenue of $17.43 billion, compared to $15.87 billion in the year-earlier period, according to data from Benzinga Pro.

On March 15, Progressive reported February earnings of $1.24 per share and net income of $737.1 million.

Progressive shares fell 1.9% to close at $202.26 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wells Fargo analyst Elysee Greenspan maintained an Overweight rating and raised the price target from $232 to $238 on April 11, 2024. This analyst has an accuracy rate of 78%.
• Keefe, Bruyette & Woods analyst Meyer Shields maintained a Market Perform rating and boosted the price target from $190 to $200 on April 10, 2024. This analyst has an accuracy rate of 76%.
• B of A Securities analyst Joshua Shanker maintained a Buy rating and cut the price target from $265 to $264 on April 2, 2024. This analyst has an accuracy rate of 78%.
• Piper Sandler analyst Paul Newsome maintained an Overweight rating with a price target of $240 on April 1, 2024. This analyst has an accuracy rate of 77%.
• Citigroup analyst Michael Ward maintained a Neutral rating and raised the price target from $192 to $202 on March 18, 2024. This analyst has an accuracy rate of 81%.

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