Wall Street brokerages expect MGIC Investment Corporation (NYSE:MTG) to post earnings of $0.28 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for MGIC Investment Corporation’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.27. MGIC Investment Corporation also posted earnings per share of $0.28 in the same quarter last year. The company is expected to report its next earnings results on Thursday, January 18th.

On average, analysts expect that MGIC Investment Corporation will report full-year earnings of $1.21 per share for the current fiscal year, with EPS estimates ranging from $1.20 to $1.22. For the next year, analysts forecast that the business will post earnings of $1.19 per share, with EPS estimates ranging from $1.18 to $1.20. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow MGIC Investment Corporation.

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. MGIC Investment Corporation had a net margin of 41.08% and a return on equity of 16.41%. The business had revenue of $270.30 million for the quarter, compared to analysts’ expectations of $267.85 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis.

A number of research firms recently weighed in on MTG. B. Riley restated a “buy” rating on shares of MGIC Investment Corporation in a research note on Monday, November 6th. BidaskClub upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. MKM Partners upped their target price on shares of MGIC Investment Corporation to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Zacks Investment Research lowered shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, FBR & Co restated a “buy” rating on shares of MGIC Investment Corporation in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. MGIC Investment Corporation currently has a consensus rating of “Buy” and an average target price of $14.08.

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC purchased a new position in shares of MGIC Investment Corporation during the third quarter worth approximately $107,000. Fox Run Management L.L.C. purchased a new position in shares of MGIC Investment Corporation during the second quarter worth approximately $116,000. Appleton Group LLC purchased a new position in shares of MGIC Investment Corporation during the second quarter worth approximately $119,000. Advisors Asset Management Inc. purchased a new position in shares of MGIC Investment Corporation during the second quarter worth approximately $121,000. Finally, Sawgrass Asset Management LLC purchased a new position in shares of MGIC Investment Corporation during the second quarter worth approximately $123,000. Institutional investors and hedge funds own 91.57% of the company’s stock.

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MGIC Investment Corporation (MTG) traded up $0.06 during mid-day trading on Thursday, hitting $14.39. 2,370,000 shares of the company were exchanged, compared to its average volume of 3,063,052. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. MGIC Investment Corporation has a 12-month low of $9.00 and a 12-month high of $14.69. The stock has a market capitalization of $5,332.46, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.38 and a beta of 2.28.

About MGIC Investment Corporation

MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.

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Earnings History and Estimates for MGIC Investment Corporation (NYSE:MTG)

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