Brokerages Anticipate Mercury General Co. (NYSE:MCY) to Announce $0.90 EPS

Mercury General Co. (NYSE:MCY) has been assigned a consensus broker rating score of 3.50 (Sell) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell rating and one has issued a hold rating on the company.

Brokerages have set a twelve-month consensus target price of $53.00 for the company and are predicting that the company will post $0.90 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mercury General an industry rank of 38 out of 256 based on the ratings given to related companies.

MCY has been the subject of several recent research reports. ValuEngine downgraded shares of Mercury General from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded shares of Mercury General from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

Several institutional investors and hedge funds have recently made changes to their positions in MCY. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Mercury General during the first quarter worth about $43,981,000. Nuveen Asset Management LLC acquired a new stake in shares of Mercury General during the second quarter worth about $25,382,000. Westwood Holdings Group Inc. boosted its stake in shares of Mercury General by 27.2% during the first quarter. Westwood Holdings Group Inc. now owns 974,440 shares of the insurance provider’s stock worth $48,790,000 after buying an additional 208,274 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Mercury General by 13.3% during the second quarter. Renaissance Technologies LLC now owns 1,719,800 shares of the insurance provider’s stock worth $107,488,000 after buying an additional 202,500 shares during the period. Finally, GWM Advisors LLC boosted its stake in shares of Mercury General by 3,615.5% during the first quarter. GWM Advisors LLC now owns 203,052 shares of the insurance provider’s stock worth $941,000 after buying an additional 197,587 shares during the period. Institutional investors and hedge funds own 43.31% of the company’s stock.

Shares of MCY stock traded up $0.47 during mid-day trading on Wednesday, hitting $55.44. 291,183 shares of the stock were exchanged, compared to its average volume of 167,445. The stock’s fifty day simple moving average is $54.24 and its two-hundred day simple moving average is $55.84. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 0.46 and a beta of 0.26. Mercury General has a 12-month low of $47.96 and a 12-month high of $65.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.42 and a current ratio of 0.42.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.17). The firm had revenue of $936.10 million for the quarter, compared to analysts’ expectations of $922.34 million. Mercury General had a return on equity of 7.97% and a net margin of 5.28%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. On average, research analysts expect that Mercury General will post 3.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.6275 per share. The ex-dividend date is Wednesday, September 11th. This represents a $2.51 annualized dividend and a dividend yield of 4.53%. Mercury General’s dividend payout ratio (DPR) is 139.44%.

Mercury General Company Profile

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, fire, and umbrella insurance. Its automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners' insurance products cover dwelling, liability, personal property, fire, and other hazards.

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