Employers (NYSE:EIG) Issues Quarterly Earnings Results

Employers (NYSE:EIG) posted its quarterly earnings results on Thursday. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.07, Zacks reports. Employers had a net margin of 15.27% and a return on equity of 9.78%. The business had revenue of $216.60 million during the quarter, compared to analyst estimates of $221.18 million.

Employers Price Performance

EIG stock traded up $1.17 during trading on Friday, reaching $49.98. The company had a trading volume of 28,293 shares, compared to its average volume of 122,218. Employers has a 52 week low of $38.67 and a 52 week high of $54.44. The company has a market cap of $1.24 billion, a P/E ratio of 9.35 and a beta of 0.27. The business has a 50 day moving average of $49.79 and a 200 day moving average of $49.36.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EIG shares. Truist Financial increased their target price on shares of Employers from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com lowered shares of Employers from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers’ compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.