EMC Insurance Group Given Consensus Rating of “Buy” by Brokerages (NASDAQ:EMCI)
EMC Insurance Group (NASDAQ:EMCI) has earned an average recommendation of “Buy” from the thirteen brokerages that are presently covering the company, Analyst Ratings News reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.06.
Shares of EMC Insurance Group (NASDAQ:EMCI) opened at 30.33 on Friday. EMC Insurance Group has a 1-year low of $26.23 and a 1-year high of $36.50. The stock has a 50-day moving average of $30.46 and a 200-day moving average of $31.84. The company has a market cap of $409.5 million and a price-to-earnings ratio of 11.64.
EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.02) by $0.01. Analysts expect that EMC Insurance Group will post $2.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.03%.
EMCI has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods reiterated a “hold” rating on shares of EMC Insurance Group in a research note on Friday, August 8th. They now have a $32.00 price target on the stock, down previously from $33.00. Separately, analysts at Zacks downgraded shares of EMC Insurance Group from a “neutral” rating to an “underperform” rating in a research note on Friday, July 25th. They now have a $29.50 price target on the stock.
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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