EMC Insurance Group Downgraded by Zacks to Neutral (EMCI)
EMC Insurance Group (NASDAQ:EMCI) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, AnalystRatingsNetwork reports. They currently have a $32.90 price objective on the stock. Zacks‘ target price would indicate a potential upside of 9.67% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital downgraded shares of EMC Insurance Group from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, September 24th. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of EMC Insurance Group from $28.00 to $30.00 in a research note to investors on Friday, August 9th. Finally, analysts at Pacific Crest raised their price target on shares of EMC Insurance Group from $30.00 to $32.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. EMC Insurance Group has an average rating of “Buy” and a consensus price target of $30.99.
EMC Insurance Group (NASDAQ:EMCI) traded down 0.17% on Tuesday, hitting $30.00. 23,758 shares of the company’s stock traded hands. EMC Insurance Group has a 52 week low of $19.85 and a 52 week high of $30.77. The stock’s 50-day moving average is $28.83 and its 200-day moving average is $28.1. The company has a market cap of $393.7 million and a P/E ratio of 9.31.
EMC Insurance Group (NASDAQ:EMCI) last released its earnings data on Thursday, August 8th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.17. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $125.37 million. Analysts expect that EMC Insurance Group will post $2.90 EPS for the current fiscal year.
EMC Insurance Group Inc is an insurance holding company. The Company conducts operations in property and casualty insurance, and reinsurance through its subsidiaries.
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