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

Mercury General (NYSE:MCYGet Free Report) announced its earnings results on Tuesday. The insurance provider reported $2.54 EPS for the quarter, topping the consensus estimate of $1.15 by $1.39, Zacks reports. The firm 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 quarter in the previous year, the company earned $1.14 earnings per share.

Mercury General Stock Down 2.1 %

NYSE:MCY traded down $1.45 during trading hours on Friday, hitting $66.18. 114,492 shares of the stock traded hands, compared to its average volume of 234,083. Mercury General has a fifty-two week low of $35.47 and a fifty-two week high of $73.72. 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 $3.66 billion, a price-to-earnings ratio of 6.52 and a beta of 0.81. The firm has a 50 day moving average price of $63.83 and a 200 day moving average price of $58.61.

Mercury General Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 12th will be paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, December 12th. Mercury General’s dividend payout ratio is 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.

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Earnings History for Mercury General (NYSE:MCY)

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