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

Mercury General (NYSE:MCY) announced its quarterly earnings data on Tuesday. The insurance provider reported $2.54 EPS for the quarter, beating the consensus estimate of $1.15 by $1.39, Zacks reports. Mercury General had a return on equity of 18.04% and a net margin of 10.18%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the company posted $1.14 EPS.

Mercury General Trading Down 2.5 %

MCY traded down $1.66 on Friday, reaching $65.97. 108,560 shares of the company traded hands, compared to its average volume of 234,055. 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 company has a market cap of $3.65 billion, a P/E ratio of 6.52 and a beta of 0.81. The firm has a fifty day simple moving average of $63.83 and a two-hundred day simple moving average of $58.61. Mercury General has a one year low of $35.47 and a one year high of $73.72.

Mercury General Cuts Dividend

The business also recently declared 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 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, December 12th. Mercury General’s dividend 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.