MGIC Investment (MTG) Scheduled to Post Quarterly Earnings on Wednesday

MGIC Investment (NYSE:MTG) is set to post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect MGIC Investment to post earnings of $0.60 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $284.72 million for the quarter, compared to analysts’ expectations of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. On average, analysts expect MGIC Investment to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGIC Investment Stock Up 1.7 %

Shares of MTG opened at $20.31 on Wednesday. The company’s 50-day simple moving average is $20.39 and its 200-day simple moving average is $19.09. The stock has a market capitalization of $5.48 billion, a PE ratio of 8.15, a P/E/G ratio of 1.63 and a beta of 1.24. MGIC Investment has a 1 year low of $13.97 and a 1 year high of $22.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MTG shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Roth Mkm lifted their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada raised their target price on MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.08.

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.