Yahoo Finance Mercury General (MCY) Falls More Steeply Than Broader Market: What Investors Need to Know
Mercury General (MCY) closed at $54.30 in the latest trading session, marking a -1.67% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.46%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 0.64%.
The the stock of auto insurance company has risen by 6.52% in the past month, leading the Finance sector's loss of 5.08% and the S&P 500's loss of 3.04%.
Investors will be eagerly watching for the performance of Mercury General in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company is forecasted to report an EPS of $0.15, showcasing a 109.87% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.24 billion, indicating a 16.83% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.90 per share and revenue of $5.27 billion, indicating changes of +866.67% and +16.34%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Mercury General. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Mercury General is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Mercury General's current valuation metrics, including its Forward P/E ratio of 19.04. This expresses a premium compared to the average Forward P/E of 13.21 of its industry.
The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Mercury General Corporation (MCY) : Free Stock Analysis Report
