Mercury General Co. (NYSE:MCY) Given Consensus Recommendation of “Strong Sell” by Analysts

Mercury General Co. (NYSE:MCY) has been assigned an average broker rating score of 4.50 (Strong Sell) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and one has given a sell rating to the company.

Analysts have set a one year consensus target price of $42.00 for the company and are forecasting that the company will post $0.54 EPS for the current quarter, according to Zacks. Zacks has also given Mercury General an industry rank of 78 out of 265 based on the ratings given to related companies.

A number of equities research analysts have recently issued reports on the stock. TheStreet downgraded shares of Mercury General from a “buy” rating to a “hold” rating in a report on Friday, December 18th. Zacks Investment Research downgraded shares of Mercury General from a “hold” rating to a “sell” rating in a report on Friday, October 16th. Finally, Keefe, Bruyette & Woods downgraded shares of Mercury General from a “market perform” rating to an “underperform” rating and set a $50.00 price target on the stock. in a report on Monday, November 2nd.

Shares of Mercury General (NYSE:MCY) opened at 46.57 on Monday. Mercury General has a one year low of $45.12 and a one year high of $60.31. The company has a market capitalization of $2.57 billion and a price-to-earnings ratio of 85.76. The company’s 50 day moving average is $49.41 and its 200 day moving average is $52.48.

Mercury General (NYSE:MCY) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The firm earned $779 million during the quarter, compared to analysts’ expectations of $760.91 million. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts predict that Mercury General will post $2.30 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Friday, December 11th.

12 Month Chart for NYSE:MCY

Mercury General Corporation is an insurance holding company. Through its subsidiaries, the Company operates as a personal automobile insurer, selling policies through a network of independent agents, 100% owned insurance agents, and direct channels in around 13 states. It also offers homeowners, commercial automobile, commercial property, mechanical breakdown, fire and umbrella insurance. It provides various types of automobile coverage, such as collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards. It offers a range of homeowner’s coverage, including dwelling, liability, personal property, fire and other hazards. It has operations in Arizona, California, Georgia, Illinois, Michigan, Nevada and New Jersey, among others. Its subsidiaries include Mercury Casualty Company, Mercury Insurance Company, California Automobile Insurance Company and Mercury Insurance Company of Georgia, among others.

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