EMC Insurance Group (EMCI) Updates FY 2018 Earnings Guidance

EMC Insurance Group (NASDAQ:EMCI) updated its FY 2018 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.30-1.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.27.

Several research firms have issued reports on EMCI. Sandler O’Neill restated a buy rating and set a $33.00 target price on shares of EMC Insurance Group in a research note on Friday, July 13th. BidaskClub cut shares of EMC Insurance Group from a strong-buy rating to a buy rating in a research note on Friday, July 13th. Finally, TheStreet cut shares of EMC Insurance Group from a b- rating to a c+ rating in a research note on Monday, August 13th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. EMC Insurance Group has a consensus rating of Hold and a consensus target price of $30.50.

EMCI traded down $0.11 during midday trading on Thursday, hitting $25.19. 5,300 shares of the company traded hands, compared to its average volume of 15,573. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $523.58 million, a P/E ratio of 20.65 and a beta of 0.64. EMC Insurance Group has a 52 week low of $22.98 and a 52 week high of $32.19.

EMC Insurance Group (NASDAQ:EMCI) last posted its earnings results on Wednesday, November 7th. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The business had revenue of $177.99 million for the quarter. EMC Insurance Group had a net margin of 3.23% and a return on equity of 3.30%. Research analysts forecast that EMC Insurance Group will post 1.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 22nd. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.92 annualized dividend and a yield of 3.65%. This is a boost from EMC Insurance Group’s previous quarterly dividend of $0.22. EMC Insurance Group’s dividend payout ratio is currently 72.13%.

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EMC Insurance Group Company Profile

EMC Insurance Group Inc, an insurance holding company, provides property and casualty insurance, and reinsurance products in the United States. It operates through two segments, Property and Casualty Insurance, and Reinsurance. The Property and Casualty Insurance segment underwrites commercial and personal lines of insurance products.

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