Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $32.75 on Progressive Corporation (The) (NYSE:PGR) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.70 for the next fiscal and $N/A for underway quarter.
Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Progressive Corporation (The) (NYSE:PGR) stands at 18.44.
Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Progressive Corporation (The) C, the PEG ratio for coming 3-5 years is 2.09.
The technical analysis highlights that Progressive Corporation (The) C current is trading $-0.01 points away or -0.03% from its 50-day moving average of $33.20. Further it is trading $0.18 or +0.56% away its 200-day moving average of $33.01.
The 52-week high of Progressive Corporation (The) (NYSE:PGR) was $35.54 while lowest point recorded in 52-week was $27.23. It implies if stock price makes a movement of over $-2.35, it will record a new 52-week high. In the case of +21.89% drop, it will touch a new 52-week low.
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