Erie Indemnity (NASDAQ:ERIE) Issues Quarterly Earnings Results

Erie Indemnity (NASDAQ:ERIE) announced its quarterly earnings data on Thursday. The financial services provider reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.09, MarketWatch Earnings reports. Erie Indemnity had a net margin of 11.76% and a return on equity of 26.27%. The business had revenue of $657.02 million for the quarter, compared to analyst estimates of $623.10 million. During the same period in the prior year, the firm posted $1.68 EPS.

Erie Indemnity stock opened at $210.12 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $9.71 billion, a P/E ratio of 37.26 and a beta of 0.56. The firm has a fifty day moving average of $190.40 and a 200-day moving average of $172.03. Erie Indemnity has a 52-week low of $130.20 and a 52-week high of $227.54.

Several equities analysts recently commented on the stock. BidaskClub raised shares of Erie Indemnity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Zacks Investment Research upgraded Erie Indemnity from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th.

About Erie Indemnity

Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. The company provides sales, underwriting, and policy issuance services for the policyholders on behalf of the Erie Insurance Exchange. Its sales related services include agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and policy processing, as well as provides administrative support, information technology, and customer services.

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Earnings History for Erie Indemnity (NASDAQ:ERIE)

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