Mercury General (NYSE:MCY) Posts Earnings Results

Mercury General (NYSE:MCY) announced its earnings results on Tuesday. The insurance provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.06, FiscalAI reports. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.62 billion. Mercury General had a return on equity of 31.98% and a net margin of 14.77%.

Mercury General Stock Performance

Mercury General stock traded down $0.89 during mid-day trading on Tuesday, reaching $102.84. The company’s stock had a trading volume of 366,913 shares, compared to its average volume of 276,204. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 6.08 and a beta of 0.89. The business has a 50 day moving average price of $102.20 and a 200-day moving average price of $98.61. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. Mercury General has a twelve month low of $76.00 and a twelve month high of $113.06.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MCY. Zacks Research upgraded shares of Mercury General from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mercury General in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, Mercury General has a consensus rating of “Strong Buy”.

Mercury General Company Profile

Mercury General Corporation (NYSE:MCY) is an insurance holding company that writes personal and commercial property and casualty insurance through its subsidiaries. The company is best known for automobile insurance, offering coverage such as liability, collision, comprehensive and uninsured or underinsured motorist protection.

Its product portfolio also includes homeowners, renters, condominium, mobile-home and umbrella insurance, as well as commercial automobile coverage and other related property and casualty products.