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Mercury General Corp. (NYSE:MCY) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Monday. The firm currently has a $50.80 price objective on the stock. Zacks‘s target price would suggest a potential upside of 8.09% from the stock’s previous close.

Shares of Mercury General Corp. (NYSE:MCY) remained flat at $47.00 during trading on Monday. The stock had a trading volume of 36,145 shares. Mercury General Corp. has a 52 week low of $41.70 and a 52 week high of $51.00. The stock’s 50-day moving average is $47.29 and its 200-day moving average is $46.62. The company has a market cap of $2.584 billion and a P/E ratio of 21.85.

Mercury General Corp. (NYSE:MCY) last announced its earnings results on Monday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $724.70 million for the quarter, compared to the consensus estimate of $718.44 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts expect that Mercury General Corp. will post $2.56 EPS for the current fiscal year.

Separately, analysts at TheStreet upgraded shares of Mercury General Corp. from a “hold” rating to a “buy” rating in a research note on Friday, April 18th.

Mercury General Corporation (NYSE:MCY) is an insurance holding company.

To view Zacks’ full report, visit Zacks’ official website.

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