$0.28 Earnings Per Share Expected for MGIC Investment Corporation (MTG) This Quarter
Wall Street analysts expect MGIC Investment Corporation (NYSE:MTG) to post $0.28 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for MGIC Investment Corporation’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.28. MGIC Investment Corporation also reported earnings per share of $0.28 during the same quarter last year. The firm is scheduled to report its next earnings report on Thursday, January 18th.
According to Zacks, analysts expect that MGIC Investment Corporation will report full-year earnings of $1.21 per share for the current fiscal year, with EPS estimates ranging from $1.20 to $1.22. For the next financial year, analysts anticipate that the business will post earnings of $1.19 per share, with EPS estimates ranging from $1.18 to $1.20. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for MGIC Investment Corporation.
MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The business had revenue of $270.30 million for the quarter, compared to analysts’ expectations of $267.85 million. MGIC Investment Corporation had a net margin of 41.08% and a return on equity of 16.41%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS.
A number of research firms recently weighed in on MTG. BidaskClub cut shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BTIG Research restated a “buy” rating and set a $14.00 target price (up previously from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $13.00 target price on shares of MGIC Investment Corporation in a research note on Thursday, August 31st. Zacks Investment Research cut shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, B. Riley restated a “buy” rating on shares of MGIC Investment Corporation in a research note on Monday, November 6th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $14.08.
Shares of MGIC Investment Corporation (NYSE:MTG) traded up $0.32 during trading on Thursday, hitting $14.33. 5,050,975 shares of the stock traded hands, compared to its average volume of 3,425,453. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. MGIC Investment Corporation has a 1-year low of $9.00 and a 1-year high of $14.69. The stock has a market cap of $5,360.00, a PE ratio of 11.17, a PEG ratio of 2.26 and a beta of 2.28.
Hedge funds have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC purchased a new stake in MGIC Investment Corporation in the 3rd quarter worth $107,000. Fox Run Management L.L.C. bought a new stake in shares of MGIC Investment Corporation in the 2nd quarter worth about $116,000. Appleton Group LLC bought a new stake in shares of MGIC Investment Corporation in the 2nd quarter worth about $119,000. Advisors Asset Management Inc. bought a new stake in shares of MGIC Investment Corporation in the 2nd quarter worth about $121,000. Finally, Sawgrass Asset Management LLC bought a new stake in shares of MGIC Investment Corporation in the 2nd quarter worth about $123,000. Institutional investors and hedge funds own 91.72% of the company’s stock.
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MGIC Investment Corporation Company Profile
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.
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