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

Posted by Steve Reilly on Nov 1st, 2024

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

Mercury General Trading Down 2.7 %

Shares of MCY stock traded down $1.81 during mid-day trading on Friday, reaching $65.82. 159,535 shares of the stock traded hands, compared to its average volume of 234,296. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 6.52 and a beta of 0.81. The company has a quick ratio of 0.31, a current ratio of 0.33 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $63.83 and its two-hundred day simple moving average is $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. Shareholders of record on Thursday, December 12th will be issued a $0.317 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.27 dividend on an annualized basis and a yield of 1.93%. Mercury General’s payout ratio is presently 12.59%.

About Mercury General

(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.