Employers (NYSE:EIG) Posts Earnings Results, Misses Expectations By $0.02 EPS

Employers (NYSE:EIG) released its 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 business had revenue of $223.10 million for the quarter, compared to analyst estimates of $217.46 million. Employers had a net margin of 13.88% and a return on equity of 10.54%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share.

Employers Stock Down 2.5 %

Shares of EIG traded down $1.09 during trading hours on Friday, reaching $42.42. The company’s stock had a trading volume of 92,232 shares, compared to its average volume of 134,439. The company has a 50 day moving average of $44.52 and a two-hundred day moving average of $41.24. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 9.47 and a beta of 0.24. Employers has a 1-year low of $35.43 and a 1-year high of $46.78.

Employers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 2.64%. Employers’s payout ratio is presently 25.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EIG shares. Truist Financial boosted their target price on Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Janney Montgomery Scott downgraded Employers from a “buy” rating to a “neutral” rating in a 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.