MGIC Investment (NYSE:MTG) will be posting its quarterly earnings results before the market opens on Tuesday, July 23rd. Analysts expect MGIC Investment to post earnings of $0.42 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 released its earnings results on Tuesday, April 23rd. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. The firm had revenue of $291.65 million during the quarter, compared to analysts’ expectations of $286.01 million. MGIC Investment had a return on equity of 19.06% and a net margin of 59.01%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. On average, analysts expect MGIC Investment to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
MTG stock opened at $13.29 on Monday. The business’s 50-day moving average price is $13.65. The company has a market cap of $4.73 billion, a PE ratio of 7.47, a PEG ratio of 1.61 and a beta of 1.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. MGIC Investment has a 1 year low of $9.41 and a 1 year high of $14.97.
Separately, Zacks Investment Research cut Heritage Insurance from a “hold” rating to a “strong sell” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $16.81.
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 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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