Of 39 brokerages covering Infosys stock, 33 have a Buy or Strong Buy rating and another four rate it at Hold. At a share price of around $17.40, the upside potential based on a median price target of around $20.90 is 20.1%. At the high price target of about $25.30, the upside potential is 45.4%.
For the fourth quarter of fiscal 2023, the consensus revenue forecast is $4.74 billion, up 2.3% sequentially and by 8.2% year over year. Infosys is expected to post EPS of $0.19, up 1.3% sequentially and up a penny year over year. For the full fiscal year that ended in March, analysts are forecasting EPS of $0.71, up 3.5%, on sales of $18.05 billion, up 12.7%.
The company’s stock trades at 24.4 times estimated 2023 earnings, 21.4 times estimated 2024 earnings of $0.82 and 19.0 times estimated 2025 earnings of $0.92 per share. The stock’s 52-week range is $16.39 to $23.45. The company pays an annual dividend of $0.40 per share (yield of 2.32%), and its total return for the past 12 months was negative 25.28%.
Progressive
Progressive Corp. (NYSE: PGR) is an insurance holding company offering personal and commercial insurance products, including auto, property and liability coverage. The stock price has risen by nearly 26% over the past 12 months. Progressive’s stock is a favorite of the smart money, with about 87% of shares outstanding held by institutions. The company said it had only limited exposure to the carnage in the banking industry. On Monday, Jefferies maintained its Buy rating on the stock and lifted its $159 price target to $168.
Of the 19 analysts covering the stock, eight have Hold ratings and eight more have a Buy or Strong Buy rating. Shares closed at $149.00 on Monday, above the median price target of $147.00. At the high target of $177.00, the implied upside is the stock is 18.8%.
First-quarter revenue is forecast at $16.01 billion, down 28.5% sequentially but up by about 17.5% year over year. Adjusted EPS are pegged at $1.36, down 10.1% sequentially and 18.3% higher year over year. For the full 2023 fiscal year, analysts currently forecast EPS of $6.37, up 68.8%, on revenue of $60.43 billion, up 18.3%.
Progressive’s stock trades at 23.2 times estimated 2023 earnings, 18.5 times estimated 2024 earnings of $8.02 and 15.2 times estimated 2025 earnings of $9.72 per share. The stock’s 52-week range is $106.35 to $149.08, and the high was posted Monday. The company pays an annual dividend of $0.40 per share (yield of 0.27%), and its total return for the past 12 months was 24.85%.
Originally published at 24/7 Wall St.
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