Mercury General (NYSE:MCY – Get Free Report) issued its earnings results on Tuesday. The insurance provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.06, FiscalAI reports. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Mercury General had a net margin of 14.77% and a return on equity of 31.98%.
Mercury General Stock Performance
MCY stock traded down $0.89 during trading on Tuesday, reaching $102.84. 366,913 shares of the company’s stock were exchanged, compared to its average volume of 276,204. The company’s fifty day moving average price is $102.20 and its 200-day moving average price is $98.61. The firm has a market cap of $5.70 billion, a PE ratio of 6.08 and a beta of 0.89. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. Mercury General has a 1-year low of $76.00 and a 1-year high of $113.06.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Zacks Research upgraded Mercury General from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Weiss Ratings restated a “buy (b)” rating on shares of Mercury General in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Strong Buy”.
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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.
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