The Progressive Corp’s Upcoming Quarterly Earnings Release

S&P 500 (NYSE:SPY) component The Progressive Corp (NYSE:PGR) will unveil its latest earnings on Monday, November 7, 2011. Progressive is an insurance holding company that provides personal and commercial automobile insurance and other property-casualty insurance throughout the U.S.

The Progressive Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 38 cents per share, a decline of 15.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 39 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 38 cents during the last month. For the year, analysts are projecting net income of $1.49 per share, a decline of 7.5% from last year.

Past Earnings Performance: The company is looking to top analyst estimates this quarter after trailing for the two previous quarters. Last quarter, it missed estimates by reporting profit of 24 cents per share against an estimate of net income of 27 cents per share. The quarter before that, it missed expectations by one cent.

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Wall St. Revenue Expectations: On average, analysts predict $3.41 billion in revenue this quarter, a rise of 4% from the year ago quarter. Analysts are forecasting total revenue of $15.02 billion for the year, a rise of 3.7% from last year’s revenue of $14.48 billion.

Analyst Ratings: Analysts are bullish on this stock with 10 analysts rating it as a buy, none rating it as a sell and nine rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Revenue fell twofold to $0.0 from $3.77 billion.

Key Stats:

A year-over-year revenue decrease in the third quarter snapped a streak of two consecutive quarters of revenue increases. Revenue rose 5.1% in the second quarter and 6.2% in the first quarter.

Competitors to Watch: Safety Insurance Group, Inc. (NASDAQ:SAFT), The Allstate Corporation (NYSE:ALL), First Acceptance Corp. (NYSE:FAC), 21st Century Holding Co. (NASDAQ:TCHC), Tower Group, Inc. (NASDAQ:TWGP), Mercury General Corp. (NYSE:MCY), White Mountains Insurance Group, Ltd. (NYSE:WTM), Horace Mann Educators Corp. (NYSE:HMN), Infinity Property and Casualty Corp. (NASDAQ:IPCC), and Gainsco, Inc. (AMEX:GAN).

Stock Price Performance: During August 8, 2011 to November 1, 2011, the stock price had risen $1.19 (6.9%) from $17.20 to $18.39. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011 when shares rose for seven-straight days, rising 4.8% (+99 cents) over that span. It saw one of its worst periods between July 7, 2011 and July 18, 2011 when shares fell for eight-straight days, falling 7.7% (-$1.67) over that span. Shares are down $1.08 (-5.5%) year to date.

(Source: Xignite Financials)

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