For its second fiscal quarter (ending June 30), Erie Indemnity Co (NASDAQ: ERIE) has reported a 39% increase in E.P.S. from $2.25 a year ago to $3.13 in the current quarter. This performance was $0.58 better than the consensus estimate of $2.55. For the latest four quarters through June 30, E.P.S. were $10.15 versus $6.76 for the same period a year ago — an increase of 50%.
Recent Price Action
Erie Indemnity Co (NASDAQ: ERIE) stock closed at $387.51 on 7/25/24 after an increase of 1.0%. Moreover, trading volume in this advance was above average at 136% of normal. The stock has risen 1.4% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
ERIE’s future returns on capital are forecasted to exceed 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 (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Erie Indemnity has a very low Appreciation Score of 12 but a good Power Rating of 81, producing the Low Neutral Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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