MGIC Investment (MTG) Set to Announce Quarterly Earnings on Wednesday

MGIC Investment (NYSE:MTGGet Rating) will be issuing its quarterly earnings data after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

MGIC Investment (NYSE:MTGGet Rating) last released its earnings results on Wednesday, November 2nd. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.31. The business had revenue of $296.06 million for the quarter, compared to the consensus estimate of $322.19 million. MGIC Investment had a return on equity of 19.66% and a net margin of 72.18%. On average, analysts expect MGIC Investment to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $13.75 on Wednesday. The business’s 50 day moving average price is $13.18 and its two-hundred day moving average price is $13.56. The company has a market cap of $4.08 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.15. MGIC Investment has a twelve month low of $11.38 and a twelve month high of $16.41.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Wednesday, November 9th. MGIC Investment’s dividend payout ratio (DPR) is presently 14.98%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MTG shares. StockNews.com started coverage on MGIC Investment in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Compass Point downgraded MGIC Investment from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $19.00 to $14.50 in a research report on Tuesday, November 8th. Barclays downgraded MGIC Investment from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $14.00 in a research report on Friday, January 6th. Finally, Credit Suisse Group reduced their price objective on MGIC Investment to $15.00 in a report on Thursday, October 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.75.

Institutional Investors Weigh In On MGIC Investment

A number of institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of MGIC Investment in the first quarter valued at approximately $26,000. Covestor Ltd boosted its stake in shares of MGIC Investment by 84.1% in the first quarter. Covestor Ltd now owns 9,642 shares of the insurance provider’s stock valued at $131,000 after buying an additional 4,404 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of MGIC Investment in the first quarter valued at approximately $154,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of MGIC Investment by 14.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,268 shares of the insurance provider’s stock valued at $167,000 after buying an additional 1,630 shares during the period. Finally, Forum Financial Management LP bought a new stake in shares of MGIC Investment in the first quarter valued at approximately $196,000. Institutional investors own 96.95% of the company’s stock.

About MGIC Investment

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MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.

Further Reading

Earnings History for MGIC Investment (NYSE:MTG)

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