Erie Indemnity Company (NASDAQ:ERIE) managing attorney-in-fact, is reporting third quarter earnings results on Thursday 29th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.50 per share.
For the full year, analysts predict revenues of $ 2505.76 million, while looking forward to income of $ 5.48 per share.
Previous Quarter Performance
Erie Indemnity Company unwinded income for the second quarter of $ 1.57 per share, from the revenue of $ 657.02 million. The quarterly earnings declined 6.55 percent while revenues escalated 1.44 percent compared with the same quarter last year.
Street analysts expected Erie Indemnity Company to report income of $ 1.41 per share on revenue of $ 623.06 million for the second quarter. The bottom line results beat street analysts by $ 0.16 or 11.35 percent, at the same time, top line results outshined analysts by $ 33.96 million or 5.45 percent.
Stock Performance
Shares of Erie Indemnity Company traded up $ 0.43 or 0.18 percent on Wednesday, reaching $ 234.76 with volume of 373.20 thousand shares. Erie Indemnity Company has traded high as $ 238.95 and has cracked $ 229.57 on the downward trend
According to the previous trading day, closing price of $ 234.76, representing a 79.98 % increase from the 52 week low of $ 130.20 and a 1.97 % decrease over the 52 week high of $ 239.04.
The company has a market capital of $ 12.28 billion and is part of the Financial Services sector and Insurance Brokers industry.
Recent Stock Dividend Announcement
On July 28, 2020, the board of directors authorized quarterly dividend of $ 0.965 per share to holders of record as of the close of business on October 5, 2020, with payment date of October 20, 2020 and ex-dividend date on October 2, 2020.
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.
