Mercury General (MCY) Scheduled to Post Quarterly Earnings on Tuesday

Mercury General (NYSE:MCY – Get Rating) will release its earnings data after the market closes on Tuesday, May 3rd. Analysts expect Mercury General to post earnings of $0.65 per share for the quarter.

Mercury General (NYSE:MCY – Get Rating) last announced its earnings results on Tuesday, February 15th. The insurance provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.62). The business had revenue of $994.57 million for the quarter, compared to analyst estimates of $994.38 million. Mercury General had a return on equity of 7.46% and a net margin of 6.21%. During the same quarter last year, the company posted $1.38 EPS. On average, analysts expect Mercury General to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of MCY stock opened at $51.95 on Tuesday. The stock’s 50-day moving average price is $53.99 and its 200 day moving average price is $53.71. Mercury General has a 52-week low of $50.37 and a 52-week high of $67.88. The stock has a market capitalization of $2.88 billion, a PE ratio of 11.62 and a beta of 0.38. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.17.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Stockholders of record on Wednesday, March 16th were issued a $0.635 dividend. This represents a $2.54 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Tuesday, March 15th. Mercury General’s payout ratio is currently 56.82%.

A number of equities analysts recently weighed in on MCY shares. StockNews.com assumed coverage on shares of Mercury General in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded shares of Mercury General from a “hold” rating to a “sell” rating in a report on Thursday, February 24th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Autumn Glory Partners LLC acquired a new stake in shares of Mercury General in the 4th quarter valued at approximately $228,000. Metropolitan Life Insurance Co NY increased its position in shares of Mercury General by 10.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,755 shares of the insurance provider’s stock valued at $252,000 after buying an additional 431 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in Mercury General in the 3rd quarter valued at about $296,000. Advisors Asset Management Inc. increased its holdings in Mercury General by 25.6% during the 4th quarter. Advisors Asset Management Inc. now owns 13,227 shares of the insurance provider’s stock valued at $702,000 after acquiring an additional 2,699 shares in the last quarter. Finally, LPL Financial LLC raised its position in Mercury General by 5.0% during the fourth quarter. LPL Financial LLC now owns 13,385 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 637 shares during the last quarter. Institutional investors own 40.18% of the company’s stock.

Mercury General Company Profile (Get Rating)

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, fire, and other hazards.

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