Employers Holdings, Inc. (EIG) Expected to Post Quarterly Sales of $208.98 Million
Equities research analysts expect that Employers Holdings, Inc. (NYSE:EIG) will post sales of $208.98 million for the current quarter, Zacks reports. Two analysts have issued estimates for Employers’ earnings. The lowest sales estimate is $208.05 million and the highest is $209.90 million. Employers posted sales of $200.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The business is expected to announce 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 financial year, with estimates ranging from $813.45 million to $817.60 million. For the next financial year, analysts forecast 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 firms that follow Employers.
Employers (NYSE:EIG) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.57 by $0.41. The company had revenue of $228.90 million during the quarter, compared to the consensus estimate of $205.48 million. Employers had a net margin of 17.89% and a return on equity of 13.43%.
In other news, SVP Lawrence S. Rogers sold 1,100 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $45.40, for a total transaction of $49,940.00. Following the completion of the sale, the senior vice president now directly owns 7,040 shares of the company’s stock, valued at $319,616. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Stephen V. Festa sold 2,268 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $47.00, for a total transaction of $106,596.00. Following the sale, the chief operating officer now directly owns 18,634 shares of the company’s stock, valued at $875,798. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,272 shares of company stock valued at $467,888. 3.50% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new stake in Employers in the 3rd quarter worth about $136,000. First Citizens Bank & Trust Co. bought a new stake in Employers in the 3rd quarter worth about $209,000. Amalgamated Bank bought a new stake in Employers in the 3rd quarter worth about $212,000. Itau Unibanco Holding S.A. bought a new stake in Employers in the 2nd quarter worth about $218,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Employers in the 3rd quarter worth about $225,000. 79.88% of the stock is owned by institutional investors and hedge funds.
NYSE:EIG opened at $42.70 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of 14.78 and a beta of 0.86. Employers has a one year low of $38.35 and a one year high of $48.65.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, November 6th. Employers’s payout ratio is presently 27.68%.
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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