MGIC Investment (MTG) to Release Quarterly Earnings on Monday

MGIC Investment (NYSE:MTG) is scheduled to release its earnings data after the market closes on Monday, November 4th. Analysts expect MGIC Investment to post earnings of $0.67 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.15. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The firm had revenue of $305.28 million for the quarter, compared to the consensus estimate of $301.02 million. During the same quarter in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect MGIC Investment to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGIC Investment Trading Down 5.9 %

NYSE:MTG opened at $23.56 on Friday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11. MGIC Investment has a 1 year low of $16.95 and a 1 year high of $26.52. The business has a fifty day moving average of $25.31 and a 200-day moving average of $23.08.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.21%. MGIC Investment’s dividend payout ratio is presently 19.19%.

Analyst Ratings Changes

MTG has been the topic of a number of recent analyst reports. BTIG Research boosted their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Roth Mkm upped their target price on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.50.

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 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.