Earnings Preview For Progressive Corp. (PGR)

Progressive Corp. PGR reports 2011 first-quarter earnings before the opening bell on Thursday Aprll 14. Analysts expect the company to earn a profit of $0.43 per share on revenues of $3.88 billion. Earnings estimates have increased 10% over the past month. Optimism is running high for the report as the company posted strong February results. Net written premiums rose 4% during the month to $1.3 billion. Analysts will be looking for management guidance on net written premiums and investment income. Additionally, policy acquisition costs will be scrutinized. The stock has been in a tight range between $18 and $22 over the past year. Currently PGR is trading near the upper end as recent results have been strong. Analysts expect the company to earn $1.58 this year, which would put the forward P/E ratio at 13.5x. rogressive has met or exceeded estimates in each of the past four quarters. The company provides personal and commercial automobile insurance, and other specialty property-casualty insurance products and related services primarily in the United States. The company's property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles.