Wall Street brokerages expect that Employers Holdings, Inc. (NYSE:EIG) will report sales of $208.98 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Employers’ earnings. The highest sales estimate is $209.90 million and the lowest is $208.05 million. Employers reported sales of $200.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.1%. The firm is expected to report its next earnings report on Wednesday, February 20th.
According to Zacks, analysts expect that Employers will report full-year sales of $815.53 million for the current year, with estimates ranging from $813.45 million to $817.60 million. For the next fiscal year, analysts anticipate that the company will post sales of $858.44 million, with estimates ranging from $858.40 million to $858.48 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Employers.
Employers (NYSE:EIG) last issued its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.41. Employers had a net margin of 17.89% and a return on equity of 13.43%. The company had revenue of $228.90 million during the quarter, compared to analysts’ expectations of $205.48 million.
A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Employers from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research note on Monday, October 29th. Boenning Scattergood upgraded shares of Employers from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Thursday, October 25th.
NYSE:EIG opened at $42.70 on Friday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 14.78 and a beta of 0.86. Employers has a fifty-two week low of $38.35 and a fifty-two week high of $48.65.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. Employers’s dividend payout ratio is currently 27.68%.
In other news, SVP Lawrence S. Rogers sold 1,100 shares of Employers stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $45.40, for a total value of $49,940.00. Following the completion of the sale, the senior vice president now directly owns 7,040 shares in the company, valued at $319,616. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lenard T. Ormsby sold 4,000 shares of Employers stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $46.62, for a total transaction of $186,480.00. Following the completion of the sale, the executive vice president now owns 23,681 shares of the company’s stock, valued at $1,104,008.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,272 shares of company stock valued at $467,888. 3.50% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in EIG. Tower Research Capital LLC TRC bought a new stake in shares of Employers in the third quarter worth approximately $136,000. First Citizens Bank & Trust Co. bought a new stake in shares of Employers in the third quarter worth approximately $209,000. Amalgamated Bank bought a new stake in shares of Employers in the third quarter worth approximately $212,000. Itau Unibanco Holding S.A. bought a new stake in shares of Employers in the second quarter worth approximately $218,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Employers in the third quarter worth approximately $225,000. Hedge funds and other institutional investors own 79.88% of the company’s stock.
Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.
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