MGIC Investment Corp. (MTG) Posts Quarterly Results
MGIC Investment Corp. (NYSE:MTG) released its earnings data on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.17, American Banking News.com reports. The company had revenue of $254.40 million for the quarter, compared to the consensus estimate of $260.92 million.
Several analysts have recently commented on the stock. Analysts at Susquehanna raised their price target on shares of MGIC Investment Corp. from $12.00 to $13.00 in a research note to investors on Tuesday. They now have a “positive” rating on the stock. On the ratings front, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $7.21.
MGIC Investment Corp. (NYSE:MTG) opened at 7.26 on Wednesday. MGIC Investment Corp. has a 52-week low of $1.42 and a 52-week high of $8.16. The stock’s 50-day moving average is $7.26 and its 200-day moving average is $6.46. The company’s market cap is $2.452 billion. MGIC Investment Corp. also was the target of some unusual options trading activity on Monday. Stock traders acquired 24,528 call options on the stock. This represents an increase of approximately 559% compared to the typical volume of 3,723 call options.
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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