Why Mercury General Corporation (NYSE:MCY) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $46.50 on Mercury General Corporation (NYSE:MCY) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.53 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Mercury General Corporation (NYSE:MCY) stands at 26.07.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Mercury General Corporation Com, the PEG ratio for coming 3-5 years is 4.29.

Technical Analysis

The technical analysis highlights that Mercury General Corporation Com current is trading $-1.50 points away or -2.78% from its 50-day moving average of $53.87. Further it is trading $-0.42 or -0.79% away its 200-day moving average of $52.79.

The 52-week high of Mercury General Corporation (NYSE:MCY) was $56.14 while lowest point recorded in 52-week was $42.97. It implies if stock price makes a movement of over $-3.77, it will record a new 52-week high. In the case of +21.88% drop, it will touch a new 52-week low.

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