Wall Street analysts expect that Employers Holdings, Inc. (NYSE:EIG) will report $205.48 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Employers’ earnings, with the lowest sales estimate coming in at $204.35 million and the highest estimate coming in at $206.60 million. Employers reported sales of $210.50 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.4%. The business is scheduled to issue its next quarterly earnings report on Wednesday, October 24th.
On average, analysts expect that Employers will report full year sales of $804.83 million for the current fiscal year, with estimates ranging from $803.06 million to $806.60 million. For the next financial year, analysts forecast that the company will post sales of $847.30 million per share, with estimates ranging from $845.70 million to $848.89 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Employers.
Employers (NYSE:EIG) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.38. Employers had a return on equity of 12.51% and a net margin of 15.10%. The firm had revenue of $204.10 million for the quarter, compared to analyst estimates of $203.79 million.
EIG has been the topic of a number of research analyst reports. Zacks Investment Research raised Employers from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, July 30th. Boenning Scattergood initiated coverage on Employers in a research note on Tuesday, June 19th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $46.67.
NYSE:EIG traded down $0.05 during mid-day trading on Friday, reaching $45.50. The company’s stock had a trading volume of 66,700 shares, compared to its average volume of 127,805. Employers has a twelve month low of $38.35 and a twelve month high of $50.45. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 15.78 and a beta of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 22nd. Stockholders of record on Wednesday, August 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, August 7th. Employers’s dividend payout ratio is currently 27.68%.
In other news, EVP Lenard T. Ormsby sold 3,000 shares of Employers stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $40.03, for a total value of $120,090.00. Following the transaction, the executive vice president now directly owns 22,681 shares of the company’s stock, valued at approximately $907,920.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lenard T. Ormsby sold 6,000 shares of Employers stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $40.52, for a total value of $243,120.00. Following the completion of the transaction, the executive vice president now directly owns 22,681 shares in the company, valued at $919,034.12. The disclosure for this sale can be found here. Insiders sold a total of 16,698 shares of company stock worth $707,926 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIG. Itau Unibanco Holding S.A. purchased a new stake in shares of Employers during the 2nd quarter valued at about $218,000. Cambria Investment Management L.P. purchased a new stake in shares of Employers during the 1st quarter valued at about $227,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Employers during the 2nd quarter valued at about $231,000. Trexquant Investment LP purchased a new stake in shares of Employers during the 2nd quarter valued at about $238,000. Finally, Koch Industries Inc. purchased a new stake in shares of Employers during the 1st quarter valued at about $277,000. 78.61% of the stock is currently owned by institutional investors and hedge funds.
Employers Company Profile
Employers Holdings, Inc, through its subsidiaries, operates in the commercial property and casualty insurance industry primarily in the United States. It offers workers' compensation insurance to small businesses in low to medium hazard industries. The company markets its products through independent local, regional, and national agents and brokers; and alternative distribution channels comprising its partners, as well as through national, regional, and local trade groups and associations.
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