News to Watch: Erie Indemnity Company (NASDAQ:ERIE)

Erie Indemnity Company (NASDAQ:ERIE)spotted trading -39.26% off 52-week high price. On the other end, the stock has been noted 26.07% away from the low price over the last 52-weeks. The stock changed 1.69% to recent value of $164.14. The stock transacted 119840 shares during most recent day however it has an average volume of 127.69K shares. The company has 46.82M of outstanding shares and 24.26M shares were floated in the market.

On April 3, 2020, Erie Indemnity Company (NASDAQ:ERIE) revealed that due to the rapidly evolving public health impact of the coronavirus (COVID-19) and its concern for the safety and wellbeing of its employees and shareholders, the Company will change the format of its 2020 Annual Meeting of Shareholders (Annual Meeting) from an in-person meeting at its Home Office in Erie, Pennsylvania to a live webcast. The virtual meeting will be held on Monday, April 20, 2020 at 9:30 a.m. EDT.

All holders of Class A common stock and Class B common stock as of the close of business on Friday, February 21, 2020, the record date established by the Company’s board of directors (Record Date), are entitled to attend the virtual meeting. No shareholders will be permitted to attend the meeting in person. An Updated Notice of Annual Meeting of Shareholders will be sent to all shareholders as of the Record Date with instructions for entry to the virtual meeting, including a unique 16-digit access code required for attendance.

Its earnings per share (EPS) expected to touch remained 9.90% for this year while earning per share for the next 5-years is expected to reach at 10.00%. ERIE has a gross margin of 14.40% and an operating margin of 14.40% while its profit margin remained 12.80% for the last 12 months.

According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 4.63% from the mean of 20 days, 2.99% from mean of 50 days SMA and performed -13.98% from mean of 200 days price. Company’s performance for the week was 0.71%, 8.63% for month and YTD performance remained -1.12%.

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