Infinity Property and Casualty Stock Rating Upgraded by Zacks (IPCC)
Infinity Property and Casualty (NASDAQ: IPCC) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Monday, Analyst Ratings Network reports. The firm currently has a $60.40 price target on the stock.
Shares of Infinity Property and Casualty (NASDAQ: IPCC) traded up 0.34% during mid-day trading on Monday, hitting $59.63. Infinity Property and Casualty has a 52 week low of $45.29 and a 52 week high of $63.55. The stock’s 50-day moving average is currently $56.8. The company has a market cap of $691.7 million and a P/E ratio of 24.44.
Infinity Property and Casualty (NASDAQ: IPCC) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.56 by $0.03. The company had revenue of $330.80 million for the quarter, compared to the consensus estimate of $328.46 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Infinity Property and Casualty has set its FY13 guidance at $2.90-3.40 EPS. Analysts expect that Infinity Property and Casualty will post $2.70 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, June 12th.
Infinity Property and Casualty Corporation (NASDAQ: IPCC) is a holding company that, through subsidiaries, provides personal automobile insurance with a focus on nonstandard auto insurance.
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