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

MGIC Investment Corporation (NYSE:MTG) is set to announce its earnings results before the market opens on Wednesday, October 18th. Analysts expect the company to announce earnings of $0.26 per share for the quarter.

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $263.31 million during the quarter, compared to the consensus estimate of $263.43 million. During the same period in the previous year, the business earned $0.26 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect MGIC Investment Corporation to post $1.14 EPS for the current fiscal year and $1.15 EPS for the next fiscal year.

Shares of MGIC Investment Corporation (MTG) opened at 12.91 on Monday. The company has a market capitalization of $4.78 billion, a P/E ratio of 13.30 and a beta of 2.16. MGIC Investment Corporation has a one year low of $7.94 and a one year high of $12.97. The stock has a 50 day moving average price of $11.90 and a 200-day moving average price of $11.27.

MTG has been the subject of a number of research reports. BidaskClub downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Deutsche Bank AG raised their price objective on MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, July 21st. Compass Point reiterated a “buy” rating and issued a $15.25 price objective (up previously from $13.00) on shares of MGIC Investment Corporation in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $13.00 price objective on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. Finally, Zacks Investment Research upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. MGIC Investment Corporation currently has a consensus rating of “Buy” and a consensus target price of $12.78.

TRADEMARK VIOLATION NOTICE: “MGIC Investment Corporation (MTG) Set to Announce Quarterly Earnings on Wednesday” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/16/mgic-investment-corporation-mtg-set-to-announce-quarterly-earnings-on-wednesday.html.

About MGIC Investment Corporation

MGIC Investment Corporation is a holding company. The Company, through

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $263.31 million during the quarter, compared to the consensus estimate of $263.43 million. During the same period in the previous year, the business earned $0.26 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect MGIC Investment Corporation to post $1.14 EPS for the current fiscal year and $1.15 EPS for the next fiscal year.

Shares of MGIC Investment Corporation (MTG) opened at 12.91 on Monday. The company has a market capitalization of $4.78 billion, a P/E ratio of 13.30 and a beta of 2.16. MGIC Investment Corporation has a one year low of $7.94 and a one year high of $12.97. The stock has a 50 day moving average price of $11.90 and a 200-day moving average price of $11.27.

MTG has been the subject of a number of research reports. BidaskClub downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Deutsche Bank AG raised their price objective on MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, July 21st. Compass Point reiterated a “buy” rating and issued a $15.25 price objective (up previously from $13.00) on shares of MGIC Investment Corporation in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $13.00 price objective on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. Finally, Zacks Investment Research upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. MGIC Investment Corporation currently has a consensus rating of “Buy” and a consensus target price of $12.78.

TRADEMARK VIOLATION NOTICE: “MGIC Investment Corporation (MTG) Set to Announce Quarterly Earnings on Wednesday” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/16/mgic-investment-corporation-mtg-set-to-announce-quarterly-earnings-on-wednesday.html.

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.

Earnings History for MGIC Investment Corporation (NYSE:MTG)

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