Meadowbrook Insurance Group Rating Increased to Neutral at Zacks (MIG)
Meadowbrook Insurance Group (NYSE: MIG) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday. The firm currently has a $7.60 price target on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at KBW raised their price target on shares of Meadowbrook Insurance Group from $6.50 to $7.00 in a research note to investors on Thursday, February 14th. Analysts at RBC Capital raised their price target on shares of Meadowbrook Insurance Group from $5.00 to $6.00 in a research note to investors on Thursday, February 14th. They now have an “underperform” rating on the stock.
Two research analysts have rated the stock with a buy rating, two have assigned a hold rating, and one has issued a sell rating to the stock. Meadowbrook Insurance Group has an average rating of “hold” and an average price target of $8.25.
Shares of Meadowbrook Insurance Group traded down 8.63% during mid-day trading on Tuesday, hitting $6.78. Meadowbrook Insurance Group has a 52 week low of $5.21 and a 52 week high of $10.12. The stock’s 50-day moving average is currently $6.67. The company has a market cap of $337.5 million and a P/E ratio of 32.26.
Meadowbrook Insurance Group last announced its earnings results on Tuesday, February 12th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.11. The company had revenue of $299.88 million for the quarter, compared to the consensus estimate of $240.61 million. During the same quarter last year, the company posted $0.16 earnings per share. Meadowbrook Insurance Group’s revenue was up 33.4% compared to the same quarter last year. Meadowbrook Insurance Group has set its FY13 guidance at $0.70-0.80 EPS. Analysts expect that Meadowbrook Insurance Group will post $0.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, April 4th. Investors of record on Thursday, March 21st will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Tuesday, March 19th.
Meadowbrook Insurance Group, Inc. (Meadowbrook) is a specialty focused commercial insurance underwriter and insurance administration services company.
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