MGIC Investment PT Raised to $4.00 at KBW (MTG)
Investment analysts at KBW raised their target price on shares of MGIC Investment (NYSE: MTG) from $1.00 to $4.00 in a note issued to investors on Monday. The firm currently has a “market perform” rating on the stock.
MGIC Investment traded up 10.29% on Monday, hitting $4.18. MGIC Investment has a 52-week low of $0.66 and a 52-week high of $5.15. The stock’s 50-day moving average is currently $2.81. The company’s market cap is $844.5 million.
MGIC Investment last issued its quarterly earnings data on Thursday, February 28th. The company reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.77) by $0.14. The company had revenue of $371.40 million for the quarter, compared to the consensus estimate of $322.32 million. During the same quarter in the prior year, the company posted ($0.67) earnings per share. The company’s quarterly revenue was down 16.9% on a year-over-year basis. Analysts expect that MGIC Investment will post $-0.92 EPS for the current fiscal year.
A number of other firms have also recently commented on MTG. Analysts at Susquehanna initiated coverage on shares of MGIC Investment in a research note to investors on Monday. They set a “neutral” rating and a $4.50 price target on the stock. Separately, analysts at FBR Capital raised their price target on shares of MGIC Investment from $1.00 to $4.00 in a research note to investors on Monday. They now have a “market perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of MGIC Investment in a research note to investors on Friday. They now have a $3.25 price target on the stock.
One analyst has rated the stock with a buy rating, one has assigned a hold rating, and three have assigned a sell rating to the company. The company currently has a consensus rating of “underweight” and an average target price of $1.70.
MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance in the United States.
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