MGIC Investment Corp. (MTG) Set to Announce Earnings on Tuesday
MGIC Investment Corp. (NYSE:MTG) is scheduled to announce its earnings results on Tuesday, October 18th. Investors that are interested in participating in the company’s conference call can do so using this link.
MGIC Investment Corp. (NYSE:MTG) last released its earnings results on Tuesday, July 19th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. MGIC Investment Corp. had a net margin of 105.16% and a return on equity of 18.40%. The firm had revenue of $263.50 million for the quarter, compared to the consensus estimate of $255.01 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, analysts expect MGIC Investment Corp. to post $0.83 EPS for the current fiscal year and $0.96 EPS for the next fiscal year.
MGIC Investment Corp. (NYSE:MTG) opened at 7.99 on Monday. The stock has a market cap of $2.72 billion, a P/E ratio of 3.30 and a beta of 2.68. The stock has a 50 day moving average of $8.03 and a 200 day moving average of $7.20. MGIC Investment Corp. has a 12-month low of $5.36 and a 12-month high of $9.96.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/mgic-investment-corp-mtg-set-to-announce-earnings-on-tuesday.html
Several large investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in shares of MGIC Investment Corp. during the second quarter worth approximately $106,000. Stevens Capital Management LP acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $114,000. State of Tennessee Treasury Department acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $119,000. BlueMountain Capital Management LLC acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $188,000. Finally, TFS Capital LLC acquired a new position in shares of MGIC Investment Corp. during the second quarter worth about $204,000. 90.84% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the stock. Deutsche Bank AG restated a “hold” rating on shares of MGIC Investment Corp. in a report on Saturday, August 6th. Zacks Investment Research upgraded shares of MGIC Investment Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. BTIG Research restated a “buy” rating and set a $12.00 price objective on shares of MGIC Investment Corp. in a report on Tuesday, July 19th. FBR & Co upgraded shares of MGIC Investment Corp. from a “market perform” rating to an “outperform” rating and set a $7.50 price objective on the stock in a report on Thursday, June 30th. Finally, Compass Point upgraded shares of MGIC Investment Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $8.50 to $9.00 in a report on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. MGIC Investment Corp. currently has a consensus rating of “Buy” and an average target price of $9.78.
About MGIC Investment Corp.
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.
Receive News & Ratings for MGIC Investment Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment Corp. and related companies with MarketBeat.com's FREE daily email newsletter.