Zacks: Erie Indemnity (ERIE) Given Consensus Rating of “Strong Buy” by Analysts
Shares of Erie Indemnity (NASDAQ:ERIE) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Zacks has also assigned Erie Indemnity an industry rank of 90 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Erie Indemnity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd.
Erie Indemnity (NASDAQ:ERIE) opened at $117.37 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $5,495.58, a PE ratio of 29.20 and a beta of 0.47. Erie Indemnity has a 12 month low of $106.91 and a 12 month high of $129.73.
Erie Indemnity (NASDAQ:ERIE) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $442.49 million for the quarter, compared to analyst estimates of $437.72 million. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. research analysts predict that Erie Indemnity will post 3.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 23rd. Investors of record on Monday, January 8th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.86%. This is a positive change from Erie Indemnity’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, January 5th. Erie Indemnity’s payout ratio is currently 77.86%.
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About Erie Indemnity
Erie Indemnity Company is a management company. The Company serves as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange is a reciprocal insurer that writes property and casualty insurance. The Company’s function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange.
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