Employers (NYSE:EIG) Posts Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• Employers exceeded earnings expectations: The company reported quarterly EPS of $0.71, beating the $0.59 consensus estimate by $0.12. Revenue totaled $189.30 million, slightly below analysts’ $191.46 million forecast.
• Shares fell 1.1%: EIG traded down $0.57 to $51.37, though the stock remains near its 52-week high of $53.51 and above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: Truist raised its price target to $59 and issued a Buy rating, but the overall consensus is Hold, based on one Buy and two Hold recommendations.

Employers (NYSE:EIG - Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.12, FiscalAI reports. Employers had a return on equity of 1.30% and a net margin of 0.91%. The business had revenue of $189.30 million for the quarter, compared to analyst estimates of $191.46 million.

Employers Stock Down 1.1%

EIG stock traded down $0.57 during mid-day trading on Wednesday, hitting $51.37. 102,392 shares of the company were exchanged, compared to its average volume of 228,411. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $922.57 million, a P/E ratio of 74.44 and a beta of 0.46. The firm's 50 day simple moving average is $49.45 and its 200 day simple moving average is $45.83. Employers has a 1-year low of $35.73 and a 1-year high of $53.51.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EIG. Truist Financial upped their price objective on Employers from $49.00 to $59.00 and gave the company a "buy" rating in a report on Friday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Employers in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $59.00.

Employers Company Profile

Employers Holdings, Inc NYSE: EIG is an insurance holding company specializing in workers' compensation coverage for small and midsize businesses. Through its insurance subsidiaries, the company provides policies designed to cover workplace injuries, related medical expenses, rehabilitation, and wage-replacement benefits.

In addition to underwriting workers' compensation insurance, Employers offers claims management, workplace-safety and loss-control services, risk-management resources, and policyholder support.

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