Employers (NYSE:EIG – Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.12, FiscalAI reports. Employers had a return on equity of 1.30% and a net margin of 0.91%. The business had revenue of $189.30 million for the quarter, compared to analyst estimates of $191.46 million.
Employers Stock Down 1.1%
EIG stock traded down $0.57 during mid-day trading on Wednesday, hitting $51.37. 102,392 shares of the company were exchanged, compared to its average volume of 228,411. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $922.57 million, a P/E ratio of 74.44 and a beta of 0.46. The firm’s 50 day simple moving average is $49.45 and its 200 day simple moving average is $45.83. Employers has a 1-year low of $35.73 and a 1-year high of $53.51.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on EIG. Truist Financial upped their price objective on Employers from $49.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Employers in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $59.00.
Read Our Latest Analysis on Employers
Employers Company Profile
Employers Holdings, Inc (NYSE:EIG) is an insurance holding company specializing in workers’ compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies designed to cover workplace injuries, related medical expenses, rehabilitation, and wage-replacement benefits.
In addition to underwriting workers’ compensation insurance, Employers offers claims management, workplace-safety and loss-control services, risk-management resources, and policyholder support.
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