MGIC Investment Co. (NYSE:MTG) Expected to Post Earnings of $0.44 Per Share

Equities research analysts forecast that MGIC Investment Co. (NYSE:MTG) will report earnings of $0.44 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for MGIC Investment’s earnings. MGIC Investment posted earnings of $0.43 per share during the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 3rd.

According to Zacks, analysts expect that MGIC Investment will report full-year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.74 to $1.75. For the next financial year, analysts anticipate that the company will post earnings of $1.98 per share, with EPS estimates ranging from $1.96 to $2.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow MGIC Investment.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, August 4th. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $297.80 million for the quarter, compared to analysts’ expectations of $291.76 million. MGIC Investment had a net margin of 49.02% and a return on equity of 12.70%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share.

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of MGIC Investment from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. B. Riley boosted their target price on shares of MGIC Investment from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Royal Bank of Canada boosted their target price on shares of MGIC Investment from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday, August 6th. Finally, Zacks Investment Research lowered shares of MGIC Investment from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Tuesday, September 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, MGIC Investment has a consensus rating of “Buy” and an average target price of $16.13.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC lifted its holdings in MGIC Investment by 1.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,129,862 shares of the insurance provider’s stock valued at $15,366,000 after acquiring an additional 20,601 shares during the last quarter. Marshall Wace LLP acquired a new stake in MGIC Investment in the 2nd quarter valued at about $19,040,000. Morgan Stanley lifted its holdings in MGIC Investment by 40.5% in the 2nd quarter. Morgan Stanley now owns 5,051,158 shares of the insurance provider’s stock valued at $68,696,000 after acquiring an additional 1,456,019 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in MGIC Investment by 54.9% during the second quarter. Thrivent Financial for Lutherans now owns 1,175,555 shares of the insurance provider’s stock valued at $15,987,000 after buying an additional 416,493 shares in the last quarter. Finally, Colony Group LLC purchased a new stake in MGIC Investment during the second quarter valued at about $150,000. 94.48% of the stock is owned by institutional investors.

MTG stock traded up $0.17 during trading on Thursday, hitting $15.12. 1,750,225 shares of the company’s stock traded hands, compared to its average volume of 2,973,752. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.25. MGIC Investment has a 52 week low of $8.29 and a 52 week high of $15.68. The stock has a fifty day moving average price of $14.57 and a two-hundred day moving average price of $14.23. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 1.73 and a beta of 1.76.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 26th. Stockholders of record on Thursday, August 12th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.12%. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.06. MGIC Investment’s dividend payout ratio is currently 24.24%.

MGIC Investment Company Profile

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.

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