Erie Indemnity Co (NASDAQ: ERIE) has reported earnings for its fourth fiscal quarter (ending December 31) of $2.12 versus $1.25 for the same period a year ago — an increase of 70%. However, this result fell short of the consensus estimate of $2.13 by $-0.01. For the latest four quarters through December 31, E.P.S. were $8.53 versus $5.71 for the same period a year ago — an increase of 49%.
Recent Price Action
Erie Indemnity Co (NASDAQ: ERIE) stock closed at $354.38 on 2/26/24 after an increase of 1.4%. However, this advance was accompanied by below average trading volume at 76% of normal. The stock is unchanged during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
ERIE’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Erie Indemnity has a current Value Trend Rating of C (Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Erie Indemnity has a very low Appreciation Score of 14 but a very high Power Rating of 97, triggering the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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