Mercury General Corp. Sets New 1-Year High at $47.38 (MCY)
Shares of Mercury General Corp. (NYSE:MCY) hit a new 52-week high during mid-day trading on Wednesday, AR Network reports. The stock traded as high as $47.38 and last traded at $47.12, with a volume of 53,443 shares trading hands. The stock had previously closed at $46.82.
Separately, analysts at Zacks upgraded shares of Mercury General Corp. (NYSE:MCY) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, July 30th. They now have a $47.00 price target on the stock.
Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Mercury General Corp. currently has an average rating of “Hold” and a consensus price target of $43.00.
In other Mercury General Corp. news, Director Gabriel Tirador sold 8,925 shares of the stock on the open market in a transaction dated Friday, September 13th. The shares were sold at an average price of $46.00, for a total transaction of $410,550.00. Following the completion of the transaction, the director now directly owns 22,897 shares of the company’s stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Mercury General Corp. has a 1-year low of $36.03 and a 1-year high of $46.98. The stock’s 50-day moving average is $44.46 and its 200-day moving average is $42.87. The company has a market cap of $2.593 billion and a price-to-earnings ratio of 24.26.
Mercury General Corp. (NYSE:MCY) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.63 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.62 by $0.01. The company had revenue of $642.57 million for the quarter, compared to the consensus estimate of $713.40 million. During the same quarter last year, the company posted $0.19 earnings per share. Mercury General Corp.’s revenue was up 1.8% compared to the same quarter last year. On average, analysts predict that Mercury General Corp. will post $2.57 earnings per share for the current fiscal year.
Mercury General Corporation (NYSE:MCY) is an insurance holding company.
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