Mercury General (NYSE:MCY) Announces Earnings Results

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

Mercury General Stock Up 1.8 %

NYSE:MCY traded up $1.08 on Wednesday, reaching $59.92. 702,569 shares of the stock traded hands, compared to its average volume of 217,965. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 15.39 and a beta of 0.81. 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 fifty day simple moving average is $54.55 and its 200 day simple moving average is $50.91. Mercury General has a 12 month low of $27.27 and a 12 month high of $61.00.

Mercury General Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 2.12%. Mercury General’s dividend payout ratio (DPR) is 32.65%.

Analyst Upgrades and Downgrades

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

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, 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.