Employers (NYSE:EIG) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Employers (NYSE:EIG) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.12, FiscalAI reports. Employers had a net margin of 3.49% and a return on equity of 5.64%. The company had revenue of $189.30 million for the quarter, compared to analyst estimates of $191.46 million. During the same period in the prior year, the company posted ($1.10) EPS.

Employers Stock Performance

Shares of EIG traded down $2.40 during midday trading on Friday, hitting $46.68. 78,964 shares of the stock traded hands, compared to its average volume of 227,981. Employers has a 1-year low of $35.73 and a 1-year high of $53.51. The firm has a market capitalization of $838.37 million, a PE ratio of 27.50 and a beta of 0.46. The business’s 50 day moving average price is $49.54 and its two-hundred day moving average price is $45.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.39 and a current ratio of 0.39.

Employers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.36 dividend on an annualized basis and a yield of 2.9%. Employers’s dividend payout ratio (DPR) is currently 197.10%.

Analyst Upgrades and Downgrades

EIG has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of Employers from $49.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Employers in a report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.00.

Employers Company Profile

Employers Holdings, Inc (NYSE:EIG) is an insurance holding company specializing in workers’ compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies designed to cover workplace injuries, related medical expenses, rehabilitation, and wage-replacement benefits.

In addition to underwriting workers’ compensation insurance, Employers offers claims management, workplace-safety and loss-control services, risk-management resources, and policyholder support.