Equities research analysts forecast that MGIC Investment Corp. (NYSE:MTG) will report earnings of $0.41 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for MGIC Investment’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.40. MGIC Investment posted earnings of $0.49 per share during the same quarter last year, which would suggest a negative year over year growth rate of 16.3%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, July 23rd.

According to Zacks, analysts expect that MGIC Investment will report full-year earnings of $1.65 per share for the current year, with EPS estimates ranging from $1.64 to $1.66. For the next financial year, analysts anticipate that the company will post earnings of $1.74 per share, with EPS estimates ranging from $1.70 to $1.80. 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 announced its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. MGIC Investment had a net margin of 59.01% and a return on equity of 19.06%. The company had revenue of $291.65 million during the quarter, compared to analysts’ expectations of $286.01 million. During the same quarter in the prior year, the company earned $0.38 EPS. MGIC Investment’s revenue was up 9.7% compared to the same quarter last year.

Separately, Zacks Investment Research cut shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. MGIC Investment currently has an average rating of “Hold” and an average target price of $16.81.

Shares of MGIC Investment stock traded down $0.11 during mid-day trading on Friday, hitting $13.29. The stock had a trading volume of 3,008,753 shares, compared to its average volume of 6,574,977. The firm’s 50-day simple moving average is $13.65. MGIC Investment has a 12-month low of $9.41 and a 12-month high of $14.97. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 7.47, a P/E/G ratio of 1.62 and a beta of 1.64.

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of MGIC Investment by 3,345.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,445 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 3,345 shares during the last quarter. Advisor Group Inc. lifted its holdings in MGIC Investment by 16.5% during the 4th quarter. Advisor Group Inc. now owns 10,777 shares of the insurance provider’s stock worth $111,000 after buying an additional 1,526 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in MGIC Investment during the 1st quarter worth approximately $114,000. Piedmont Investment Advisors Inc. acquired a new stake in MGIC Investment during the 1st quarter worth approximately $148,000. Finally, Mackay Shields LLC acquired a new stake in MGIC Investment during the 4th quarter worth approximately $219,000. 92.02% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Company Profile

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 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.

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