Zacks: Analysts Anticipate MGIC Investment Co. (NYSE:MTG) Will Post Earnings of $0.55 Per Share
Brokerages expect MGIC Investment Co. (NYSE:MTG – Get Rating) to report earnings per share (EPS) of $0.55 for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for MGIC Investment’s earnings. MGIC Investment reported earnings of $0.44 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The firm is expected to announce its next earnings results on Monday, January 1st.
On average, analysts expect that MGIC Investment will report full year earnings of $2.27 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will report earnings of $2.24 per share. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow MGIC Investment.
MGIC Investment (NYSE:MTG – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $294.60 million during the quarter, compared to the consensus estimate of $292.28 million. MGIC Investment had a return on equity of 14.61% and a net margin of 55.82%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS.
A number of research firms have issued reports on MTG. StockNews.com upgraded MGIC Investment from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. BTIG Research cut their price target on MGIC Investment from $18.00 to $17.00 in a research note on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $18.07.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in MGIC Investment in the 1st quarter worth approximately $26,000. Cyrus J. Lawrence LLC purchased a new position in MGIC Investment in the 1st quarter worth approximately $33,000. Quent Capital LLC purchased a new position in MGIC Investment in the 4th quarter worth approximately $49,000. Meeder Asset Management Inc. lifted its holdings in MGIC Investment by 87,240.0% in the 1st quarter. Meeder Asset Management Inc. now owns 4,367 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 4,362 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in MGIC Investment in the 4th quarter worth approximately $71,000. 94.10% of the stock is currently owned by institutional investors.
MGIC Investment stock opened at $13.77 on Friday. The business has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $14.33. The company has a market cap of $4.26 billion, a P/E ratio of 7.03, a P/E/G ratio of 1.23 and a beta of 1.49. MGIC Investment has a 52-week low of $12.60 and a 52-week high of $16.84. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.20.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 26th. Investors of record on Thursday, May 12th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, May 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.32%. MGIC Investment’s dividend payout ratio (DPR) is presently 16.33%.
About MGIC Investment (Get Rating)
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, 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.
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