MGIC Investment (MTG) Scheduled to Post Quarterly Earnings on Thursday
MGIC Investment (NYSE:MTG) is set to release its earnings data before the market opens on Thursday, January 18th. Analysts expect MGIC Investment to post earnings of $0.27 per share for the quarter.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. The firm had revenue of $270.30 million during the quarter, compared to analysts’ expectations of $267.85 million. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. On average, analysts expect MGIC Investment to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
MGIC Investment (MTG) opened at $15.12 on Tuesday. The stock has a market cap of $5,600.00, a P/E ratio of 13.26, a P/E/G ratio of 1.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. MGIC Investment has a 1-year low of $9.68 and a 1-year high of $15.64.
A number of brokerages recently issued reports on MTG. Deutsche Bank upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a report on Monday, January 8th. ValuEngine cut shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research cut shares of MGIC Investment from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. MKM Partners upped their price target on shares of MGIC Investment to $16.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, FBR & Co reiterated a “buy” rating on shares of MGIC Investment in a report on Wednesday, October 18th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.35.
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About MGIC Investment
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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