Progressive (PGR) Stock Higher Ahead of Q2 Results

Progressive (PGR) stock is increasing late Wednesday morning ahead of the company’s 2016 second quarter results due out tomorrow morning.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Progressive (PGR) - Get Report are up 0.12% to $33.30 late Wednesday morning ahead of the company's 2016 second quarter results due out before tomorrow's market open.

Analysts are modeling that earnings per share will decline year-over-year, but revenue will increase.

Wall Street is expecting the Mayfield Village, OH-based insurance company to report earnings of 33 cents per share on revenue of $5.75 billion.

During the same quarter last year, Progressive posted earnings of 62 cents per share on revenue of $5.25 billion.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. 

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PGR

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