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Strength Seen in Erie Indemnity (ERIE): Can Its 4.2% Jump Turn into More Strength?
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Erie Indemnity (ERIE - Free Report) shares rallied 4.2% in the last trading session to close at $190.96. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 11.9% gain over the past four weeks.
Improvement in premiums of homeowners and commercial multi-peril products, strengthening of business platforms as well as identification and development of new sources of revenues continues to drive Erie Indemnity.
This company should continue to benefit from strong growth in renewal business, focus on expanding agency force, and growth of its customer base. Technological advancements strengthen competitive position.
This insurance company is expected to post quarterly earnings of $1.62 per share in its upcoming report, which represents a year-over-year change of +7.3%. Revenues are expected to be $707.48 million, up 4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Erie Indemnity, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ERIE going forward to see if this recent jump can turn into more strength down the road.
Erie Indemnity belongs to the Zacks Insurance - Brokerage industry. Another stock from the same industry, Aon (AON - Free Report) , closed the last trading session 2.9% higher at $271.74. Over the past month, AON has returned -3.2%.
Aon's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.58. Compared to the company's year-ago EPS, this represents a change of +12.7%. Aon currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Erie Indemnity (ERIE): Can Its 4.2% Jump Turn into More Strength?
Erie Indemnity (ERIE - Free Report) shares rallied 4.2% in the last trading session to close at $190.96. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 11.9% gain over the past four weeks.
Improvement in premiums of homeowners and commercial multi-peril products, strengthening of business platforms as well as identification and development of new sources of revenues continues to drive Erie Indemnity.
This company should continue to benefit from strong growth in renewal business, focus on expanding agency force, and growth of its customer base. Technological advancements strengthen competitive position.
This insurance company is expected to post quarterly earnings of $1.62 per share in its upcoming report, which represents a year-over-year change of +7.3%. Revenues are expected to be $707.48 million, up 4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Erie Indemnity, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ERIE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Erie Indemnity belongs to the Zacks Insurance - Brokerage industry. Another stock from the same industry, Aon (AON - Free Report) , closed the last trading session 2.9% higher at $271.74. Over the past month, AON has returned -3.2%.
Aon's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.58. Compared to the company's year-ago EPS, this represents a change of +12.7%. Aon currently boasts a Zacks Rank of #3 (Hold).