Mercury General (NYSE:MCY) Posts Earnings Results, Beats Estimates By $1.39 EPS

Posted by Mark Dietrich on Nov 1st, 2024

Mercury General (NYSE:MCY – Get Free Report) announced its earnings results on Tuesday. The insurance provider reported $2.54 EPS for the quarter, beating the consensus estimate of $1.15 by $1.39, Zacks reports. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. During the same period in the prior year, the business posted $1.14 earnings per share.

Mercury General Trading Down 2.7 %

MCY stock traded down $1.81 during midday trading on Friday, hitting $65.82. The stock had a trading volume of 159,535 shares, compared to its average volume of 234,296. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.64 billion, a P/E ratio of 6.52 and a beta of 0.81. The business has a fifty day moving average price of $63.83 and a two-hundred day moving average price of $58.61. Mercury General has a 1-year low of $35.47 and a 1-year high of $73.72.

Mercury General Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be paid a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, December 12th. Mercury General’s dividend payout ratio is presently 12.59%.

Mercury General Company Profile

(Get Free Report)

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.