MGIC Investment Corp. (MTG) Set to Announce Earnings on Wednesday
MGIC Investment Corp. (NYSE:MTG) is scheduled to post its Q214 quarterly earnings results on Wednesday, July 16th. Analysts expect MGIC Investment Corp. to post earnings of $0.14 per share and revenue of $237.13 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.
MGIC Investment Corp. (NYSE:MTG) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $235.10 million for the quarter, compared to the consensus estimate of $242.35 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts expect MGIC Investment Corp. to post $0.52 EPS for the current fiscal year and $0.78 EPS for the next fiscal year.
Shares of MGIC Investment Corp. (NYSE:MTG) opened at 8.38 on Tuesday. MGIC Investment Corp. has a one year low of $5.94 and a one year high of $9.50. The stock has a 50-day moving average of $9.04 and a 200-day moving average of $8.7. The company has a market cap of $2.837 billion and a price-to-earnings ratio of 34.98. MGIC Investment Corp. also saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 41,790,807 shares, a decrease of 10.6% from the June 13th total of 46,764,089 shares. Based on an average daily trading volume, of 4,388,419 shares, the short-interest ratio is currently 9.5 days. Currently, 12.6% of the company’s stock are short sold.
A number of analysts have recently weighed in on MTG shares. Analysts at Goldman Sachs downgraded shares of MGIC Investment Corp. from a “conviction-buy” rating to a “buy” rating in a research note on Friday. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of MGIC Investment Corp. in a research note on Wednesday, May 21st. They now have a $8.75 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of MGIC Investment Corp. from $6.00 to $7.00 in a research note on Monday, May 19th. They now have an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.03.
MGIC Investment Corporation (NYSE:MTG) is a holding company and through wholly owned subsidiaries is a private mortgage insurer in the United States.