Mercury General Corp. (NYSE:MCY) does about 259.84K shares in volume on a normal day but saw 378724 shares change hands in the recent trading day. The company now has a market cap of 3.49B USD. Its current market price is $63.11, marking an increase of 0.46% compared to the previous close of $62.82. The 52 week high reached by this stock is $67.11 whilst the lowest price level in 52 weeks is $28.12.
Mercury General Corp. (MCY) has a 20-day trading average at $61.73 and the current price is -5.95% off the 52-week high compared with 124.41% distance from its 52-week low. The 50-day simple moving average of the closing price is $61.56 and its 200-day simple moving average is $52.57. If we look at the stock’s price movements over the week, volatility stands at 3.04%, which decreases to 2.94% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 53.90 to suggest the stock is neutral.
The consensus objective for the share price is $80.00, suggesting that the stock has a potential upside of 21.11% over the period.
FactSet Research has provided data showing that 2 brokerages have issued ratings for the stock. 1 analysts have rated it as a sell, while 1 advise that it is a overweight. 0 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Strong Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 07, 2023 when Raymond James downgraded the stock to “Outperform” and issued a price target of between $40 and $33. Raymond James upgraded the stock to “Strong Buy” from Underperform on November 04, 2022 at a price target of $45.
The current price level is 2.23%, 2.52%, and 20.05% away from its SMA20, SMA50, and SMA200 respectively, with the MCY price moving above the 50-day SMA on current market day. Mercury General Corp. (MCY) stock is down -0.43% over the week and 4.47% over the past month. Its price is 69.15% year-to-date and 122.30% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/30/2024, with the company’s earnings per share (EPS) of 1.14 above consensus estimates by 1. The company’s next earnings report forecasts estimating quarterly EPS at 1.7 and 5.0 for whole year. Expected sales for next quarter are $1.4B, which analysts say will come at $5.35B for the current fiscal year and next year at $5.88B. In addition, estimates put the company’s current quarterly revenue at an average of $1.37B.
To reach the target analysts have set, the stock logically needs to grow 21.11 percent from here.
Outstanding shares total 55.37M with insiders holding 52.04% of the shares and institutional holders owning 43.69% of the company’s common stock. The company has a return on investment of 14.27% and return on equity of 20.94%. The price to earnings ratio (P/E ratio) amounts to 10.95 while the forward price to earnings ratio is 9.71. The beta has a value of 0.84. Price to book ratio is 2.12 and price to sales ratio is 0.70.
