Mercury General (NYSE:MCY) Issues Earnings Results

Mercury General (NYSE:MCY) announced its quarterly earnings results on Tuesday. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $0.80 by $0.29, Yahoo Finance reports. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.33 billion. Mercury General had a return on equity of 9.85% and a net margin of 4.48%. During the same quarter in the prior year, the company posted ($0.47) EPS.

Mercury General Trading Up 1.8 %

Mercury General stock traded up $1.08 during trading on Wednesday, hitting $59.92. The company had a trading volume of 702,569 shares, compared to its average volume of 217,965. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company’s 50 day simple moving average is $54.55 and its 200-day simple moving average is $50.91. Mercury General has a 1-year low of $27.27 and a 1-year high of $61.00. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 15.39 and a beta of 0.81.

Mercury General Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.12%. Mercury General’s payout ratio is currently 32.65%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Mercury General from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th.

About Mercury General

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.