The Progressive Corporation (NYSE:PGR) reported weaker-than-expected earnings for the third quarter on Wednesday.
The company posted quarterly earnings of $4.06 per share which missed the analyst consensus estimate of $5.04 per share. The company reported quarterly sales of $20.849 billion which missed the analyst consensus estimate of $21.819 billion.
Progressive shares fell 2.2% to $221.57 on Thursday.
These analysts made changes to their price targets on Progressive following earnings announcement.
- B of A Securities analyst Joshua Shanker maintained Progressive with a Buy and raised the price target from $350 to $351.
- Citigroup analyst Matthew Heimermann maintained the stock with a Buy and lowered the price target from $312 to $301.38.
- Wells Fargo analyst Elyse Greenspan maintained Progressive with an Equal-Weight rating and lowered the price target from $266 to $246.
- BMO Capital analyst Michael Zaremski maintained the stock with a Market Perform and cut the price target from $252 to $247.
- Keefe, Bruyette & Woods analyst Meyer Shields maintained Progressive with a Market Perform and lowered the price target from $270 to $262.
Considering buying PGR stock? Here’s what analysts think:
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