The stock of Employers Holdings, Inc. (NYSE:EIG) is now priced at $30.15 and the shares are 0.04 points up or 0.13% higher compared to its previous closing price of $30.11. The stock had 187294 contracts set over the past session. EIG shares’ daily volume is compared to its average trading volume at 0.27 million shares. However, it has a float of 29.42 million and although its performance was 2.87% over the week, it’s one to watch. Analysts have given the EIG stock a yearly average price target of $50 per share. It means the stock’s upside potential is 65.84% with the EIG share price recently placing at $29.98 to $30.66. However, some brokerage firms have priced the stock below the average, including one that has called $31.
In the last trading session, Employers Holdings, Inc. (NYSE:EIG) raised by $0.84 over the week and lost -$0.37 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $45.23. The stock recorded its established 52-week high on 07/29/19.
Since 05/14/20, the stock has traded to a low of $25.53 at 18.1%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.14. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Employers Holdings, Inc.’s two-week RSI is 51.49. This suggests that the stock is neutral at the moment and that EIG shares’ price movement remains stable. The stochastic readings are equally revealing at 49.06% meaning the EIG share price is currently in neutral territory.
The technical chart shows that the EIG stock will likely settle at between $30.55 and $30.94 per share. However, if the stock dips below $29.87, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $29.58.
Currently, the stock is trading in the green of MACD, with a reading of 0.4. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Boenning & Scattergood cut their recommendation for EIG from Outperform to Neutral in April 27 review. Buckingham Research analysts upgraded their recommendation of the stock from Underperform to Neutral in a flash note released to investors on May 31. Boenning & Scattergood seeing the improvements upgraded the stock from Neutral to Outperform on October 25.
The average rating for the EIG equity is 2.75 and is currently gathering a bullish momentum. Of 4 analysts tracking Employers Holdings, Inc. polled by Reuters, 3 rated EIG as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the EIG stock price is 20.1X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 14.2below the group’s average of 14.7. Employers Holdings, Inc. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Employers Holdings, Inc. (NYSE:EIG) will decrease by about -99.92%, which will see them reach $164.18 million. The company’s full-year revenues are, however, expected to diminish by about -28.59%, down from $835.9 million to $596.95 million. EIG’s expected adjusted earnings should drop almost -66.67% to end up at $0.3 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -62.5% to record $1.2/share.