Employers (NYSE:EIG) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Employers (NYSE:EIG) posted its quarterly earnings data on Thursday. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02), Briefing.com reports. Employers had a net margin of 13.88% and a return on equity of 10.54%. The company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $217.46 million. During the same period in the previous year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis.

Employers Stock Down 2.5 %

NYSE:EIG traded down $1.09 on Friday, reaching $42.42. 92,232 shares of the company’s stock were exchanged, compared to its average volume of 134,439. The business has a fifty day moving average of $44.52 and a 200-day moving average of $41.24. Employers has a 52-week low of $35.43 and a 52-week high of $46.78. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 9.47 and a beta of 0.24.

Employers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 28th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Tuesday, February 27th. Employers’s dividend payout ratio (DPR) is 25.06%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EIG. Janney Montgomery Scott lowered shares of Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Truist Financial increased their price target on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 20th.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers' compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.