Analysts Issue Forecasts for MGIC Investment Corporation’s Q3 2017 Earnings (MTG)

MGIC Investment Corporation (NYSE:MTG) – Analysts at FBR & Co decreased their Q3 2017 earnings per share estimates for MGIC Investment Corporation in a research report issued on Tuesday. FBR & Co analyst R. Binner now expects that the insurance provider will post earnings of $0.24 per share for the quarter, down from their previous forecast of $0.26.

MGIC Investment Corporation (NYSE:MTG) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. The company had revenue of $263.31 million for the quarter, compared to analysts’ expectations of $263.43 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. MGIC Investment Corporation’s revenue was down .1% compared to the same quarter last year.

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Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $13.00 price target on shares of MGIC Investment Corporation in a research note on Thursday, August 31st. BidaskClub upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. BTIG Research restated a “buy” rating and issued a $14.00 price target (up previously from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. Finally, Deutsche Bank AG boosted their price target on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $12.25.

MGIC Investment Corporation (NYSE:MTG) opened at 12.46 on Wednesday. The company has a 50-day moving average price of $11.81 and a 200 day moving average price of $11.21. The company has a market cap of $4.62 billion, a PE ratio of 12.83 and a beta of 2.16. MGIC Investment Corporation has a 52 week low of $7.84 and a 52 week high of $12.65.

Large investors have recently bought and sold shares of the business. Fox Run Management L.L.C. acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $116,000. Appleton Group LLC acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $119,000. Advisors Asset Management Inc. acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $121,000. Sawgrass Asset Management LLC acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $123,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $132,000. Institutional investors and hedge funds own 89.58% of the company’s stock.

About MGIC Investment Corporation

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 l

MGIC Investment Corporation (NYSE:MTG) – Analysts at FBR & Co decreased their Q3 2017 earnings per share estimates for MGIC Investment Corporation in a research report issued on Tuesday. FBR & Co analyst R. Binner now expects that the insurance provider will post earnings of $0.24 per share for the quarter, down from their previous forecast of $0.26.

MGIC Investment Corporation (NYSE:MTG) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. The company had revenue of $263.31 million for the quarter, compared to analysts’ expectations of $263.43 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. MGIC Investment Corporation’s revenue was down .1% compared to the same quarter last year.

COPYRIGHT VIOLATION NOTICE: This story was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/analysts-issue-forecasts-for-mgic-investment-corporations-q3-2017-earnings-mtg.html.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $13.00 price target on shares of MGIC Investment Corporation in a research note on Thursday, August 31st. BidaskClub upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. BTIG Research restated a “buy” rating and issued a $14.00 price target (up previously from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. Finally, Deutsche Bank AG boosted their price target on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $12.25.

MGIC Investment Corporation (NYSE:MTG) opened at 12.46 on Wednesday. The company has a 50-day moving average price of $11.81 and a 200 day moving average price of $11.21. The company has a market cap of $4.62 billion, a PE ratio of 12.83 and a beta of 2.16. MGIC Investment Corporation has a 52 week low of $7.84 and a 52 week high of $12.65.

Large investors have recently bought and sold shares of the business. Fox Run Management L.L.C. acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $116,000. Appleton Group LLC acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $119,000. Advisors Asset Management Inc. acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $121,000. Sawgrass Asset Management LLC acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $123,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of MGIC Investment Corporation in the second quarter worth $132,000. Institutional investors and hedge funds own 89.58% of the company’s stock.

About MGIC Investment Corporation

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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