MGIC Investment Corp. Hits New 52-Week High at $8.88 (MTG)
Shares of MGIC Investment Corp. (NYSE:MTG) hit a new 52-week high during trading hours on Monday, Stock Ratings News reports. The company traded as high as $8.88 and last traded at $8.60, with a volume of 5,039,196 shares trading hands. The stock had previously closed at $8.82.
A number of research firms have recently commented on MTG. Analysts at Compass Point upgraded shares of MGIC Investment Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Friday, December 20th. They now have a $10.00 price target on the stock, up previously from $6.50. Separately, analysts at Zacks reiterated a “neutral” rating on shares of MGIC Investment Corp. in a research note to investors on Wednesday, December 11th. They now have a $8.75 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of MGIC Investment Corp. in a research note to investors on Thursday, December 5th. They set a “conviction-buy” rating and a $10.00 price target on the stock. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. MGIC Investment Corp. presently has a consensus rating of “Buy” and a consensus target price of $8.47.
MGIC Investment Corp. has a 52 week low of $2.36 and a 52 week high of $8.85. The stock’s 50-day moving average is $8.29 and its 200-day moving average is $7.5. The company’s market cap is $2.923 billion.
MGIC Investment Corp. (NYSE:MTG) last released its earnings data on Wednesday, October 16th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.17. The company had revenue of $254.40 million for the quarter, compared to the consensus estimate of $260.92 million. During the same quarter in the previous year, the company posted ($1.22) earnings per share. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. Analysts expect that MGIC Investment Corp. will post $-0.27 EPS for the current fiscal year.
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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