MGIC Investment Corp. (MTG) to Release Quarterly Earnings on Wednesday
MGIC Investment Corp. (NYSE:MTG) will be issuing its Q313 quarterly earnings data on Wednesday, October 16th. Analysts expect the company to announce earnings of ($0.13) per share and revenue of $260.92 million for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.
MGIC Investment Corp. (NYSE:MTG) last announced its earnings results on Tuesday, July 23rd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.19. The company had revenue of $263.90 million for the quarter, compared to the consensus estimate of $266.24 million. During the same quarter in the previous year, the company posted ($1.36) earnings per share. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. On average, analysts expect MGIC Investment Corp. to post $-0.51 EPS for the current fiscal year and $0.26 EPS for the next fiscal year.
MGIC Investment Corp. (NYSE:MTG) opened at 7.59 on Tuesday. MGIC Investment Corp. has a 1-year low of $1.42 and a 1-year high of $8.16. The stock has a 50-day moving average of $7.26 and a 200-day moving average of $6.45. The company’s market cap is $2.564 billion. MGIC Investment Corp. also was the recipient of unusually large options trading activity on Monday. Traders purchased 24,528 call options on the company. This is an increase of 559% compared to the average volume of 3,723 call options.
MTG has been the subject of a number of recent research reports. Analysts at Credit Suisse raised their price target on shares of MGIC Investment Corp. from $5.00 to $5.50 in a research note to investors on Thursday, October 3rd. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of MGIC Investment Corp. in a research note to investors on Friday, September 20th. They now have a $8.00 price target on the stock. Finally, analysts at JMP Securities initiated coverage on shares of MGIC Investment Corp. in a research note to investors on Tuesday, September 17th. They set a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.07.
MGIC Investment Corporation (NYSE:MTG) is a holding company and through wholly owned subsidiaries is a private mortgage insurer in the United States.
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