Employers (NYSE:EIG) Issues Earnings Results

Employers (NYSE:EIG) released its earnings results on Wednesday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.12, FiscalAI reports. Employers had a return on equity of 1.30% and a net margin of 0.91%. The firm had revenue of $189.30 million during the quarter, compared to analysts’ expectations of $191.46 million.

Employers Stock Down 1.1%

NYSE:EIG traded down $0.57 on Wednesday, hitting $51.37. 102,392 shares of the company’s stock were exchanged, compared to its average volume of 228,411. The firm has a 50-day moving average price of $49.45 and a 200-day moving average price of $45.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.39 and a quick ratio of 0.39. Employers has a 52 week low of $35.73 and a 52 week high of $53.51. The company has a market cap of $922.57 million, a P/E ratio of 74.44 and a beta of 0.46.

Analyst Ratings Changes

A number of brokerages have recently commented on EIG. Truist Financial boosted their price target on Employers from $49.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Employers in a report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.00.

Employers Company Profile

Employers Holdings, Inc (NYSE:EIG) is an insurance holding company specializing in workers’ compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies designed to cover workplace injuries, related medical expenses, rehabilitation, and wage-replacement benefits.

In addition to underwriting workers’ compensation insurance, Employers offers claims management, workplace-safety and loss-control services, risk-management resources, and policyholder support.