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Mercury General (MCY) Stock Moves -0.68%: What You Should Know
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Mercury General (MCY - Free Report) closed at $50.90 in the latest trading session, marking a -0.68% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
The auto insurance company's stock has climbed by 7.99% in the past month, exceeding the Finance sector's loss of 3.74% and the S&P 500's gain of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Mercury General in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. The company's earnings per share (EPS) are projected to be $0.15, reflecting a 109.87% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.24 billion, indicating a 16.83% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.90 per share and a revenue of $5.27 billion, demonstrating changes of +866.67% and +16.34%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Mercury General. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Mercury General is currently a Zacks Rank #1 (Strong Buy).
Looking at valuation, Mercury General is presently trading at a Forward P/E ratio of 17.67. Its industry sports an average Forward P/E of 12.77, so one might conclude that Mercury General is trading at a premium comparatively.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 37, positioning it in the top 15% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Mercury General (MCY) Stock Moves -0.68%: What You Should Know
Mercury General (MCY - Free Report) closed at $50.90 in the latest trading session, marking a -0.68% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
The auto insurance company's stock has climbed by 7.99% in the past month, exceeding the Finance sector's loss of 3.74% and the S&P 500's gain of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Mercury General in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. The company's earnings per share (EPS) are projected to be $0.15, reflecting a 109.87% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.24 billion, indicating a 16.83% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.90 per share and a revenue of $5.27 billion, demonstrating changes of +866.67% and +16.34%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Mercury General. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Mercury General is currently a Zacks Rank #1 (Strong Buy).
Looking at valuation, Mercury General is presently trading at a Forward P/E ratio of 17.67. Its industry sports an average Forward P/E of 12.77, so one might conclude that Mercury General is trading at a premium comparatively.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 37, positioning it in the top 15% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.