Employers (NYSE:EIG) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Employers (NYSE:EIG) issued its quarterly earnings results on Thursday. The financial services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.02), Briefing.com reports. The company had revenue of $223.10 million for the quarter, compared to the consensus estimate of $217.46 million. Employers had a return on equity of 10.54% and a net margin of 13.88%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS.

Employers Stock Up 0.8 %

Shares of EIG stock traded up $0.36 during trading hours on Friday, reaching $43.87. 147,798 shares of the stock traded hands, compared to its average volume of 135,119. The business has a fifty day moving average price of $44.52 and a 200 day moving average price of $41.24. Employers has a 1-year low of $35.43 and a 1-year high of $46.78. The firm has a market capitalization of $1.11 billion, a PE ratio of 9.50 and a beta of 0.24.

Employers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, February 27th. Employers’s dividend payout ratio is 25.06%.

Analyst Ratings Changes

A number of brokerages have commented on EIG. Truist Financial lifted their target price on Employers from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Janney Montgomery Scott lowered Employers from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th.

About Employers

Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. The company operates in two segments, Employers and Cerity. It offers workers' compensation insurance to small businesses in low to medium hazard industries under the Employers and Cerity brands.