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

Mercury General (NYSE:MCY) announced its quarterly earnings results on Tuesday. The insurance provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.15 by $1.39, Zacks reports. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $1.14 EPS.

Mercury General Stock Down 2.5 %

MCY stock traded down $1.66 on Friday, hitting $65.97. 108,560 shares of the company’s stock were exchanged, compared to its average volume of 234,055. The firm has a 50 day moving average price of $63.83 and a two-hundred day moving average price of $58.61. Mercury General has a 12-month low of $35.47 and a 12-month high of $73.72. The stock has a market cap of $3.65 billion, a P/E ratio of 6.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.31 and a current ratio of 0.33.

Mercury General Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, December 12th. Mercury General’s payout ratio is presently 12.59%.

Mercury General Company Profile

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.