analysis of statistics

Progressive Corp (NYSE:PGR) shares traded on -1.21% below secure line and closed at $72.54. The stock exchanged hands 3.18 Million shares versus average trading capacity of 3.01 Million shares. It has a market cap of $42.33 Billion.

Wall Street analysts are predicting that Progressive Corp (NYSE:PGR) will report earnings per share of $1.24 in their quarterly report. For the current quarter Progressive Corp (NYSE:PGR) has high EPS estimates of $1.45 in contradiction of low EPS estimates of $1.08. However a year ago for the same quarter the company has reported $1.15 EPS. Average estimation for the current quarter has been provided by 16 analysts.

Investors as well as the sell-side will be paying close attention to how the actual numbers compare with the estimates. Earnings surprises can have a huge impact on a company’s stock price. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock’s price, but also to a gradual increase over time. Hence, it’s not surprising that some companies are known for routinely beating earning projections. A negative earnings surprise will usually result in a decline in share price.

A large surprise factor in either direction typically can lead to a significant swing in the stock price in the hours and days after the report. Previously Progressive Corp (NYSE:PGR) reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by $-0.04 with surprise factor of -2.9%.

Progressive Corp (NYSE:PGR) has average revenue estimates of $9.27 Billion, compared to low analyst estimates of $9.22 Billion and high estimates of $9.37 Billion for the current quarter. A total number of 8 analysts provided estimations over revenues. For the current year the company’s revenue estimates are $37.32 Billion compared to low analyst estimates of $37.1 Billion and high estimates of $37.75 Billion according to the prediction of 9 analysts.

Taking a broader look at the analyst consensus, according to 14 analysts Progressive Corp (NYSE:PGR)’s price will reach at $82.36 during 52 weeks. Its minimum price target estimates has been figured out at $58 while the maximum price target forecast is established at $92.

On the other hand Progressive Corp (NYSE:PGR) has Relative Strength Index (RSI 14) of 42.72 along with Average True Range (ATR 14) of 1.41. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock’s price movement. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days) as suggested by J Welles Wilder. In terms of market analysis and trading signals, RSI moving above the horizontal 30 reference level is viewed as a bullish indicator, while the RSI moving below the horizontal 70 reference level is seen to be a bearish indicator. The level of 50 represents neutral market momentum and corresponds with the center line in other oscillators such as MACD (Moving Average Convergence/Divergence). The average true range (ATR) is a measure of volatility introduced by Welles Wilder.

Consequently Progressive Corp (NYSE:PGR)’s weekly and monthly volatility is 1.76%, 1.80% respectively.