Employers (NYSE:EIG) Announces Earnings Results, Beats Estimates By $0.07 EPS

Employers (NYSE:EIG) released its quarterly earnings results on Thursday. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.07, Zacks reports. Employers had a net margin of 15.27% and a return on equity of 9.78%. The company had revenue of $216.60 million during the quarter, compared to the consensus estimate of $221.18 million.

Employers Trading Up 2.4 %

EIG stock traded up $1.17 on Friday, hitting $49.98. The company had a trading volume of 28,293 shares, compared to its average volume of 122,218. Employers has a 12-month low of $38.67 and a 12-month high of $54.44. The stock’s 50-day simple moving average is $49.79 and its 200 day simple moving average is $49.36. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 9.35 and a beta of 0.27.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EIG shares. Truist Financial raised their target price on shares of Employers from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com cut shares of Employers from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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.