These Analysts Slash Their Forecasts On Progressive After Q2 Results

The Progressive Corporation PGR reported mixed results for the second quarter on Wednesday.

The company posted quarterly earnings of $4.88 per share which beat the analyst consensus estimate of $4.29 per share. The company reported quarterly sales of $20.310 billion which missed the analyst consensus estimate of $20.550 billion.

Progressive shares fell 0.3% to trade at $245.74 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 lowered the price target from $337 to $336.
• Keefe, Bruyette & Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $290 to $268.
• Evercore ISI Group analyst David Motemaden downgraded Progressive from Outperform to In-Line and announced a $275 price target.

Considering buying PGR stock? Here’s what analysts think:

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