Employers (NYSE:EIG) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Employers (NYSE:EIG) announced its quarterly earnings results on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02), Briefing.com reports. Employers had a return on equity of 10.54% and a net margin of 13.88%. The business had revenue of $223.10 million for the quarter, compared to analyst estimates of $217.46 million. During the same period last year, the firm earned $0.60 EPS. Employers’s quarterly revenue was up 8.0% compared to the same quarter last year.

Employers Stock Up 0.3 %

Shares of Employers stock traded up $0.11 on Friday, hitting $43.62. The stock had a trading volume of 143,112 shares, compared to its average volume of 135,043. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 9.50 and a beta of 0.24. The business’s 50 day moving average is $44.52 and its two-hundred day moving average is $41.24. Employers has a twelve month low of $35.43 and a twelve month high of $46.78.

Employers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Tuesday, February 27th. Employers’s dividend payout ratio is presently 25.06%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EIG. Janney Montgomery Scott downgraded Employers from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Truist Financial upped their price objective on shares of Employers from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 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.