Mercury General Corp reports results for the quarter ended in January 1 - Earnings Summary

Mercury General

30/10/2024 03:07

* Mercury General Corp  MCY.N  reported quarterly adjusted
earnings of $2.54​​ per share for the quarter ended January 1,
higher than the same quarter last year, when the company
reported EPS of $1.14.  The mean expectation of two analysts for
the quarter was for earnings of $1.70 per share. Wall Street
expected results to range from $1.15  to $2.25 per share.
    * Revenue rose 43.7% to $1.53 billion from a year ago;
analysts
expected $1.37 billion. 
    * Mercury General Corp's reported EPS for the quarter was
$4.17​.
    * The company reported quarterly net income of $230.86
million.
    * Mercury General Corp shares had risen by 7.7% this
quarter and
gained 81.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 240%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is  "hold."

Wall Street's median 12-month price target for Mercury General
Corp is 80.00 
This summary was machine generated from LSEG data October 30 at
03:07 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024                     1.09           
 Jun. 30 2024      0.80           1.09           Beat
 Mar. 31 2024      0.13           0.78           Beat
 Dec. 31 2023      0.20           1.15           Beat