Mercury General (NYSE:MCY) Releases Earnings Results, Beats Estimates By $0.06 EPS

Mercury General (NYSE:MCY) released its quarterly earnings results on Tuesday. The insurance provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.06, FiscalAI reports. Mercury General had a net margin of 14.77% and a return on equity of 31.98%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.62 billion.

Mercury General Price Performance

Shares of NYSE:MCY traded down $0.89 during trading on Tuesday, hitting $102.84. 366,913 shares of the company were exchanged, compared to its average volume of 276,204. Mercury General has a 1-year low of $76.00 and a 1-year high of $113.06. The company has a market capitalization of $5.70 billion, a P/E 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. The business’s 50 day moving average is $102.20 and its 200-day moving average is $98.61.

Analyst Ratings Changes

MCY has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mercury General in a report on Tuesday, September 1st. Zacks Research raised Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, Mercury General has an average rating of “Strong Buy”.

Mercury General Company Profile

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.