Mercury General Corporation (MCY) Scheduled to Post Earnings on Monday
Mercury General Corporation (NYSE:MCY) is set to release its earnings data before the market opens on Monday, October 30th. Analysts expect Mercury General Corporation to post earnings of $0.60 per share for the quarter.
Mercury General Corporation (NYSE:MCY) last released its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.18. Mercury General Corporation had a return on equity of 6.66% and a net margin of 2.45%. The firm had revenue of $852.80 million during the quarter, compared to analyst estimates of $815.85 million. During the same period in the prior year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect Mercury General Corporation to post $1.78 EPS for the current fiscal year and $2.57 EPS for the next fiscal year.
Mercury General Corporation (NYSE MCY) opened at 56.36 on Monday. Mercury General Corporation has a 1-year low of $50.32 and a 1-year high of $64.52. The firm’s 50-day moving average price is $56.60 and its 200 day moving average price is $56.61. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 39.41 and a beta of 0.50.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were given a dividend of $0.6225 per share. The ex-dividend date was Wednesday, September 13th. This represents a $2.49 dividend on an annualized basis and a dividend yield of 4.42%. Mercury General Corporation’s payout ratio is 172.92%.
In other news, CEO Gabriel Tirador sold 2,355 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $59.00, for a total transaction of $138,945.00. Following the completion of the transaction, the chief executive officer now owns 36,239 shares of the company’s stock, valued at approximately $2,138,101. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 34.30% of the stock is currently owned by insiders.
MCY has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Mercury General Corporation from a “buy” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub upgraded Mercury General Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.
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About Mercury General Corporation
Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.
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