Progressive Analysts Slash Their Forecasts After Q2 Results

Benzinga07-16 21:28

The Progressive Corp. (NYSE:PGR) on Wednesday reported mixed second-quarter 2026 results.

Adjusted earnings per share were $4.86, beating the analyst consensus estimate of $4.77. Revenue, measured as net premiums earned, increased 6% year over year to $21.57 billion but narrowly missed the consensus estimate of $21.60 billion.

For the month of June, Progressive reported net income of $779 million, down 31% from a year earlier. Monthly earnings per share declined to $1.34 from $1.91, while the monthly combined ratio increased to 90.0 from 86.6.

Progressive shares fell 0.3% to $204.62 in pre-market trading.

These analysts made changes to their price targets on Progressive following earnings announcement.

Keefe, Bruyette & Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.
BMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.

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

Photo via Shutterstock

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Monthly earnings per share declined to $1.34 from $1.91, while the monthly combined ratio increased to 90.0 from 86.6.</p>\n<p>Progressive shares fell 0.3% to $204.62 in pre-market trading.</p>\n<p>These analysts made changes to their price targets on Progressive following earnings announcement.</p>\n<ul>\n<li>Keefe, Bruyette &amp; Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.</li>\n<li>BMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.</li>\n</ul>\n<p><strong>Considering buying PGR stock? 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Revenue, measured as net premiums earned, increased 6% year over year to $21.57 billion but narrowly missed the consensus estimate of $21.60 billion.</p>\n<p>For the month of June, Progressive reported net income of $779 million, down 31% from a year earlier. Monthly earnings per share declined to $1.34 from $1.91, while the monthly combined ratio increased to 90.0 from 86.6.</p>\n<p>Progressive shares fell 0.3% to $204.62 in pre-market trading.</p>\n<p>These analysts made changes to their price targets on Progressive following earnings announcement.</p>\n<ul>\n<li>Keefe, Bruyette &amp; Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.</li>\n<li>BMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.</li>\n</ul>\n<p><strong>Considering buying PGR stock? Here’s what analysts think:</strong></p>\n<figure><img decoding=\"async\" height=\"449\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-1024x449.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-1024x449.png 1024w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-300x132.png 300w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439-768x337.png 768w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/07/16092721/image-439.png 1225w\" width=\"1024\"/></figure>\n<p><em>Photo via Shutterstock</em></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0731783394.SGD","symbol_name":"Fidelity Global Dividend A-MINCOME(G)-SGD","start_time":0,"source_url":"https://www.benzinga.com/analyst-stock-ratings/price-target/26/07/60495733/progressive-analysts-slash-their-forecasts-after-q2-results","article_id":"2651447561","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2651447561","pubTimestamp":1784208507,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"A mixed Q2 for Progressive Corp. 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(NYSE:PGR) on Wednesday reported mixed second-quarter 2026 results.\nAdjusted earnings per share were $4.86, beating the analyst consensus estimate of $4.77. Revenue, measured as net premiums earned, increased 6% year over year to $21.57 billion but narrowly missed the consensus estimate of $21.60 billion.\nFor the month of June, Progressive reported net income of $779 million, down 31% from a year earlier. Monthly earnings per share declined to $1.34 from $1.91, while the monthly combined ratio increased to 90.0 from 86.6.\nProgressive shares fell 0.3% to $204.62 in pre-market trading.\nThese analysts made changes to their price targets on Progressive following earnings announcement.\n\nKeefe, Bruyette & Woods analyst Meyer Shields maintained the stock with a Market Perform and lowered the price target from $231 to $226.\nBMO Capital analyst Michael Zaremski maintained Progressive with a Market Perform and lowered the price target from $220 to $205.\n\nConsidering buying PGR stock? 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