Mercury General Corporation (NYSE:MCY) released its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.42 by $0.18, Bloomberg Earnings reports. Mercury General Corporation had a net margin of 3.00% and a return on equity of 6.47%. The business had revenue of $827.42 million for the quarter, compared to analyst estimates of $835.00 million. During the same period in the previous year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year.
Shares of Mercury General Corporation (NYSE MCY) traded down $0.23 during mid-day trading on Tuesday, reaching $55.39. 150,000 shares of the company traded hands, compared to its average volume of 175,259. Mercury General Corporation has a 12-month low of $52.52 and a 12-month high of $64.52. The firm has a market cap of $3,077.57, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 1.12 and a beta of 0.53. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.21.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be paid a $0.625 dividend. This is an increase from Mercury General Corporation’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.50 annualized dividend and a yield of 4.51%. Mercury General Corporation’s payout ratio is presently 139.11%.
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MCY has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Mercury General Corporation from a “sell” rating to a “hold” rating and set a $68.00 price objective on the stock in a research report on Wednesday, August 2nd. BidaskClub raised shares of Mercury General Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, TheStreet downgraded shares of Mercury General Corporation from a “b” rating to a “c+” rating in a research note on Monday, October 30th.
Mercury General Corporation Company Profile
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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