Employers (EIG) Releases Quarterly Earnings Results
Employers (NYSE:EIG) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.50, Bloomberg Earnings reports. Employers had a net margin of 13.32% and a return on equity of 10.39%. During the same period last year, the firm earned $0.95 earnings per share.
Employers (NYSE:EIG) traded up $0.35 during trading hours on Wednesday, hitting $40.50. 77,426 shares of the stock were exchanged, compared to its average volume of 124,524. The firm has a market capitalization of $1,326.41, a price-to-earnings ratio of 12.70 and a beta of 1.05. Employers has a twelve month low of $35.90 and a twelve month high of $50.45.
A number of equities analysts have recently weighed in on EIG shares. SunTrust Banks reissued a “buy” rating and issued a $53.00 price objective on shares of Employers in a research report on Friday, October 27th. Zacks Investment Research raised shares of Employers from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Monday, October 30th. Finally, ValuEngine lowered shares of Employers from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $46.00.
Employers Holdings, Inc is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. It provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses.
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