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Mercury General (MCY) Advances While Market Declines: Some Information for Investors
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Mercury General (MCY - Free Report) closed at $52.67 in the latest trading session, marking a +1.23% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Coming into today, shares of the auto insurance company had gained 8.67% in the past month. In that same time, the Finance sector lost 6.38%, while the S&P 500 lost 1.66%.
Market participants will be closely following the financial results of Mercury General in its upcoming release. The company plans to announce its earnings on April 30, 2024. On that day, Mercury General is projected to report earnings of $0.15 per share, which would represent year-over-year growth of 109.87%. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 16.83% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.90 per share and revenue of $5.27 billion. These totals would mark changes of +866.67% and +16.34%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Mercury General. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Mercury General holds a Zacks Rank of #3 (Hold).
In terms of valuation, Mercury General is currently trading at a Forward P/E ratio of 17.94. This denotes a premium relative to the industry's average Forward P/E of 12.83.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Mercury General (MCY) Advances While Market Declines: Some Information for Investors
Mercury General (MCY - Free Report) closed at $52.67 in the latest trading session, marking a +1.23% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Coming into today, shares of the auto insurance company had gained 8.67% in the past month. In that same time, the Finance sector lost 6.38%, while the S&P 500 lost 1.66%.
Market participants will be closely following the financial results of Mercury General in its upcoming release. The company plans to announce its earnings on April 30, 2024. On that day, Mercury General is projected to report earnings of $0.15 per share, which would represent year-over-year growth of 109.87%. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 16.83% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.90 per share and revenue of $5.27 billion. These totals would mark changes of +866.67% and +16.34%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Mercury General. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Mercury General holds a Zacks Rank of #3 (Hold).
In terms of valuation, Mercury General is currently trading at a Forward P/E ratio of 17.94. This denotes a premium relative to the industry's average Forward P/E of 12.83.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.