Progressive Expected to Earn $1.31 a Share
Progressive Corp. (PGR) - Get Progressive Corporation Report is expected to report adjusted net income of $774.8 million, or $1.31 a share, on sales of $9.6 billion before the market opens on Wednesday, based on a FactSet survey of 18 analysts.
In the same period a year ago, the company posted earnings of $1.31 a share on sales of $8.6 billion. It reported net income of $704.2 million.
The stock has fallen 5.6% since the company last reported earnings on July 17.
Quarterly estimates have risen 1.1 cent a share in the past month.
In the upcoming quarter analysts are forecasting adjusted net income of $772 million, or $1.31 a share, on sales of $9 billion.
Progressive is currently trading at a price-to-forward-earnings ratio of 13.6 based on the 12-month estimates of 19 analysts surveyed by FactSet.
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