Meadowbrook Insurance Group Rating Lowered to Underperform at Zacks (MIG)
Meadowbrook Insurance Group (NYSE:MIG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Thursday. They currently have a $5.80 price objective on the stock. Zacks‘s price objective indicates a potential downside of 4.61% from the company’s current price.
Meadowbrook Insurance Group (NYSE:MIG) traded up 1.65% during mid-day trading on Thursday, hitting $6.16. The stock had a trading volume of 36,108 shares. Meadowbrook Insurance Group has a 52-week low of $5.24 and a 52-week high of $7.46. The stock has a 50-day moving average of $6.52 and a 200-day moving average of $6.15. The company has a market cap of $308.6 million and a price-to-earnings ratio of 30.92.
Meadowbrook Insurance Group (NYSE:MIG) last released its earnings data on Tuesday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.19. 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. Analysts expect that Meadowbrook Insurance Group will post $0.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, August 14th.
Meadowbrook Insurance Group, Inc (NYSE:MIG) is a specialty commercial insurance underwriter and insurance administration services company.
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