MGIC Investment Co. (NYSE:MTG) Expected to Post Earnings of $0.55 Per Share

Equities analysts expect MGIC Investment Co. (NYSE:MTGGet Rating) to post earnings per share (EPS) of $0.55 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for MGIC Investment’s earnings. MGIC Investment posted earnings of $0.44 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The company is scheduled to report its next quarterly 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 fiscal year. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.24 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for MGIC Investment.

MGIC Investment (NYSE:MTGGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.11. The company had revenue of $294.60 million during the quarter, compared to the consensus estimate of $292.28 million. MGIC Investment had a net margin of 55.82% and a return on equity of 14.61%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS.

A number of analysts have recently issued reports on MTG shares. StockNews.com raised shares of MGIC Investment from a “hold” rating to a “buy” rating in a research note on Friday. BTIG Research lowered their target price on shares of MGIC Investment from $18.00 to $17.00 in a report on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.07.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new position in shares of MGIC Investment in the 1st quarter valued at $26,000. Cyrus J. Lawrence LLC purchased a new stake in shares of MGIC Investment during the first quarter worth $33,000. Quent Capital LLC purchased a new stake in shares of MGIC Investment during the fourth quarter worth $49,000. Meeder Asset Management Inc. grew its holdings in shares of MGIC Investment by 87,240.0% during the first quarter. Meeder Asset Management Inc. now owns 4,367 shares of the insurance provider’s stock worth $59,000 after buying an additional 4,362 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of MGIC Investment during the fourth quarter worth $71,000. Institutional investors and hedge funds own 94.10% of the company’s stock.

Shares of MTG opened at $13.05 on Friday. The firm’s 50-day simple moving average is $13.55 and its two-hundred day simple moving average is $14.55. The stock has a market cap of $4.04 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 1.14 and a beta of 1.50. MGIC Investment has a fifty-two week low of $12.60 and a fifty-two week high of $16.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.61 and a current ratio of 0.61.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, May 11th. MGIC Investment’s payout ratio is 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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