Employers (NYSE:EIG) Releases Earnings Results, Misses Estimates By $0.02 EPS

Employers (NYSE:EIG) announced its earnings results on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02), Briefing.com reports. Employers had a return on equity of 10.65% and a net margin of 14.16%. The business had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $217.46 million. During the same quarter in the previous year, the firm earned $0.60 EPS. Employers’s quarterly revenue was up 8.0% on a year-over-year basis.

Employers Price Performance

Shares of EIG stock opened at $43.99 on Friday. The company’s fifty day simple moving average is $44.50 and its two-hundred day simple moving average is $41.26. Employers has a 1 year low of $35.43 and a 1 year high of $46.78. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.32 and a beta of 0.24.

Employers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, May 7th. This is a boost from Employers’s previous quarterly dividend of $0.28. Employers’s payout ratio is 23.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial lifted their price target on shares of Employers from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Janney Montgomery Scott cut shares of Employers from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th.

Employers Company Profile

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.