Mercury General (NYSE:MCY) Posts Earnings Results, Beats Expectations By $0.06 EPS

Mercury General (NYSE:MCY) released its quarterly earnings data on Tuesday. The insurance provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.06, FiscalAI reports. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.62 billion. Mercury General had a return on equity of 30.02% and a net margin of 10.47%.

Mercury General Trading Down 4.4%

MCY stock traded down $3.95 during midday trading on Thursday, reaching $84.98. 303,413 shares of the company’s stock traded hands, compared to its average volume of 278,949. The company has a market capitalization of $4.71 billion, a P/E ratio of 7.30 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47. Mercury General has a fifty-two week low of $80.62 and a fifty-two week high of $113.06. The business has a 50-day moving average price of $101.81 and a two-hundred day moving average price of $98.67.

Mercury General Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, December 17th. Mercury General’s payout ratio is 10.94%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research upgraded Mercury General from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Mercury General presently has an average rating of “Strong Buy”.

About Mercury General

Mercury General Corporation (NYSE:MCY) is an insurance holding company that writes personal and commercial property and casualty insurance through its subsidiaries. The company is best known for automobile insurance, offering coverage such as liability, collision, comprehensive and uninsured or underinsured motorist protection.

Its product portfolio also includes homeowners, renters, condominium, mobile-home and umbrella insurance, as well as commercial automobile coverage and other related property and casualty products.