Meadowbrook Insurance Group (MIG) Announces Quarterly Earnings Results, Misses Estimates By $0.19 EPS
Meadowbrook Insurance Group (NYSE:MIG) released its earnings data on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.19, Analyst Ratings Net reports. The company had revenue of $187.93 million for the quarter, compared to the consensus estimate of $181.43 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis.
Meadowbrook Insurance Group (NYSE:MIG) traded down 0.16% during mid-day trading on Tuesday, hitting $6.20. 121,692 shares of the company’s stock traded hands. Meadowbrook Insurance Group has a 1-year low of $5.24 and a 1-year high of $7.46. The stock has a 50-day moving average of $6.67 and a 200-day moving average of $6.18. The company’s market cap is $310.6 million.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Meadowbrook Insurance Group from an “underperform” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $6.70 price target on the stock. Analysts at Compass Point upgraded shares of Meadowbrook Insurance Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. They now have a $7.00 price target on the stock, up previously from $6.50. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.78.
Meadowbrook Insurance Group, Inc (NYSE:MIG) is a specialty commercial insurance underwriter and insurance administration services company.
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