Mercury General Corp. PT Raised to $46.00 (MCY)
Keefe, Bruyette & Woods upped their price objective on shares of Mercury General Corp. (NYSE:MCY) from $43.00 to $46.00 in a research note issued on Tuesday, AnalystRatings.NET reports. Keefe, Bruyette & Woods’ target price suggests a potential downside of 3.52% from the stock’s previous close.
Mercury General Corp. (NYSE:MCY) traded down 1.99% during mid-day trading on Tuesday, hitting $47.68. The stock had a trading volume of 191,299 shares. Mercury General Corp. has a one year low of $36.03 and a one year high of $46.98. The stock has a 50-day moving average of $44.3 and a 200-day moving average of $42.70. The company has a market cap of $2.620 billion and a price-to-earnings ratio of 25.21.
Mercury General Corp. (NYSE:MCY) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.12. The company had revenue of $704.90 million for the quarter, compared to the consensus estimate of $710.70 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Mercury General Corp. will post $2.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 26th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.62 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from Mercury General Corp.’s previous quarterly dividend of $0.61.
Mercury General Corporation (NYSE:MCY) is an insurance holding company.
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