Erie Indemnity (ERIE) Getting Somewhat Favorable News Coverage, Study Shows
News stories about Erie Indemnity (NASDAQ:ERIE) have trended somewhat positive on Monday, according to Accern Sentiment. The research firm ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Erie Indemnity earned a coverage optimism score of 0.12 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 47.2436352169476 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Erie Indemnity (NASDAQ:ERIE) opened at 120.92 on Monday. Erie Indemnity has a one year low of $96.01 and a one year high of $129.73. The company has a 50-day moving average of $123.89 and a 200-day moving average of $121.20. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 30.23 and a beta of 0.43.
Erie Indemnity (NASDAQ:ERIE) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.12 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.09. The company had revenue of $448.56 million during the quarter, compared to analysts’ expectations of $447.41 million. Erie Indemnity had a return on equity of 25.11% and a net margin of 12.73%. Equities research analysts expect that Erie Indemnity will post $3.90 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Thursday, October 5th will be issued a $0.783 dividend. This is a boost from Erie Indemnity’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, October 4th. This represents a $3.13 dividend on an annualized basis and a dividend yield of 2.59%. Erie Indemnity’s payout ratio is 78.45%.
Several research firms recently commented on ERIE. Zacks Investment Research downgraded shares of Erie Indemnity from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 1st. BidaskClub upgraded shares of Erie Indemnity from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th.
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About Erie Indemnity
Erie Indemnity Company is a management company. The Company serves as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange is a reciprocal insurer that writes property and casualty insurance. The Company’s function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange.
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