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.
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%.
ILLEGAL ACTIVITY NOTICE: “EMC Insurance Group (EMCI) Updates FY 2018 Earnings Guidance” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://sportsperspectives.com/2018/11/08/emc-insurance-group-emci-updates-fy-2018-earnings-guidance.html.
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.
Featured Story: Hedge Funds – Risk or Reward?
Receive News & Ratings for EMC Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMC Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.