MGIC Investment (MTG) Scheduled to Post Quarterly Earnings on Wednesday

MGIC Investment (NYSE:MTG) will be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The business had revenue of $284.72 million for the quarter, compared to the consensus estimate of $302.96 million. On average, analysts expect MGIC Investment to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGIC Investment Stock Performance

MTG opened at $20.31 on Wednesday. The business’s 50-day moving average price is $20.39 and its two-hundred day moving average price is $19.09. MGIC Investment has a 1 year low of $13.97 and a 1 year high of $22.43. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98.

Analyst Ratings Changes

Several brokerages have recently weighed in on MTG. Royal Bank of Canada raised their price objective on MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Roth Mkm boosted their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.08.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.