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PGR
Benzinga
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These Analysts Revise Their Forecasts On Progressive After Q3 Earnings

1. PGR reported Q3 earnings of $4.06 per share, missing estimates. 2. Sales reached $20.849 billion, below the $21.819 billion estimate. 3. Shares dropped 2.2% to $221.57 post-earnings announcement. 4. Analyst ratings varied, with some lowering price targets. 5. B of A maintained a Buy rating but slightly increased its target.

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FAQ

Why Bearish?

The earnings miss reflects underlying operational challenges. Historically, significant earnings misses have led to downward price adjustments.

How important is it?

Weaker earnings can affect investor confidence and market perception of PGR. The mixed ratings from analysts suggest uncertainty in the outlook.

Why Short Term?

The immediate response to earnings reports is typically quick. Analysts' revised price targets indicate a short-term reevaluation of PGR's value.

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