Zacks: Analysts expect MGIC Investment Co. (NYSE:MTG) to post earnings of $0.55 per share


Brokers 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 provided earnings estimates for MGIC Investment. MGIC Investment reported earnings of $0.44 per share in the same quarter last year, indicating a positive growth rate of 25% year-over-year. The company is expected to announce its next results on Monday, January 1.

On average, analysts expect MGIC Investment to report annual earnings of $2.27 per share for the current fiscal year. For the next fiscal year, analysts expect the company to report earnings of $2.24 per share. Zacks earnings per share calculations are an average based on a survey of analysts who follow MGIC Investment.

MGIC Investment (NYSE:MTG – Get Rating) last released its quarterly results on Wednesday, May 4. The insurance provider reported earnings per share (EPS) of $0.60 for the quarter, beating analyst consensus estimates of $0.58 by $0.02. The company posted revenue of $294.60 million in the quarter, versus a consensus estimate of $292.28 million. MGIC Investment had a return on equity of 14.61% and a net margin of 55.82%. The company’s quarterly revenue fell 1.1% from the same quarter last year. During the same period of the previous year, the company posted EPS of $0.42.

A number of research companies have published reports on MTG. StockNews.com upgraded MGIC Investment from a “hold” rating to a “buy” rating in a Friday, May 13 research rating. BTIG Research reduced its price target on MGIC Investment from $18.00 to $17.00 in a Tuesday, April 12 research note. Three equity research analysts have assigned the stock a hold rating, three have issued a buy rating and one has assigned the stock a high buy rating. 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 been buying and selling stocks. Lazard Asset Management LLC bought a new position in MGIC Investment in Q1 worth approximately $26,000. Cyrus J. Lawrence LLC bought a new position in MGIC Investment in Q1 worth approximately $33,000. Quent Capital LLC bought a new position in MGIC Investment in Q4 for a value of approximately $49,000. Meeder Asset Management Inc. increased its stake in MGIC Investment by 87,240.0% in the 1st quarter. Meeder Asset Management Inc. now owns 4,367 shares of the insurance provider worth $59,000 after buying 4,362 additional shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in MGIC Investment in Q4 worth around $71,000. 94.10% of the shares are currently held by institutional investors.

Shares of MGIC Investment opened at $13.77 on Friday. The company 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 capitalization 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 ratio of 0.20.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 26. Investors of record on Thursday, May 12 received a dividend of $0.08 per share. The ex-dividend date was Wednesday, May 11. This represents a dividend of $0.32 on an annualized basis and a dividend yield of 2.32%. The dividend payout ratio (DPR) of MGIC Investment is currently 16.33%.

About MGIC Investment (Get a 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 in Guam. The company offers mortgage principal insurance that provides mortgage default protection on individual loans, as well as covers outstanding loan principal, overdue interest, and various expenses associated with default and subsequent foreclosure.

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