Mercury General Corporation (NYSE:MCY) Getting Favorable News Coverage, Study Shows
Press coverage about Mercury General Corporation (NYSE:MCY) has been trending positive on Saturday, according to Accern. The research group scores the sentiment of media coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Mercury General Corporation earned a news impact score of 0.28 on Accern’s scale. Accern also assigned news headlines about the insurance provider an impact score of 47.1465573082952 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Mercury General Corporation (MCY) opened at 58.10 on Friday. The company has a 50-day moving average price of $55.63 and a 200 day moving average price of $57.55. Mercury General Corporation has a 1-year low of $50.32 and a 1-year high of $64.52. The stock has a market capitalization of $3.21 billion, a P/E ratio of 40.63 and a beta of 0.50.
Mercury General Corporation (NYSE:MCY) last announced its earnings results on Monday, July 31st. The insurance provider reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.18. Mercury General Corporation had a return on equity of 6.66% and a net margin of 2.45%. The firm had revenue of $852.80 million for the quarter, compared to analysts’ expectations of $815.85 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Mercury General Corporation will post $1.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be issued a dividend of $0.6225 per share. The ex-dividend date is Wednesday, September 13th. This represents a $2.49 annualized dividend and a yield of 4.29%. Mercury General Corporation’s payout ratio is 172.92%.
Several equities analysts recently weighed in on the company. BidaskClub raised Mercury General Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised Mercury General Corporation from a “sell” rating to a “hold” rating and set a $68.00 price objective for the company in a research note on Wednesday, August 2nd.
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In related news, VP Randall R. Petro sold 1,672 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $55.52, for a total transaction of $92,829.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gabriel Tirador sold 2,355 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $59.00, for a total value of $138,945.00. Following the sale, the chief executive officer now directly owns 36,239 shares in the company, valued at approximately $2,138,101. The disclosure for this sale can be found here. 34.30% of the stock is owned by insiders.
About Mercury General Corporation
Mercury General Corporation is an insurance holding company. As of December 31, 2016, the Company and its subsidiaries were engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11 states, principally California. Its segments include Property and Casualty Lines, and Other Lines.
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