NYSE:MCYInsurance
Mercury General (MCY): Earnings Rose 22.2% as Profit Margin Improved, Countering Market Growth Concerns
Mercury General (MCY) reported earnings growth of 22.2% over the last year, with its net profit margin rising to 6.8% from 6.4% a year ago. Earnings have averaged 2% growth per year over the past five years, and the stock’s Price-To-Earnings ratio of 11.6x sits below both peer and industry averages. However, the share price currently trades above modeled fair value. Revenue is expected to grow at 6% annually, which lags the broader US market's 10.5% forecast. The story is one of improving...