Brokerages Expect MGIC Investment Co. (NYSE:MTG) to Announce $0.42 EPS

Equities analysts expect MGIC Investment Co. (NYSE:MTG) to post $0.42 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for MGIC Investment’s earnings, with estimates ranging from $0.40 to $0.43. MGIC Investment also posted earnings per share of $0.42 during the same quarter last year. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 5th.

On average, analysts expect that MGIC Investment will report full year earnings of $1.68 per share for the current financial year, with EPS estimates ranging from $1.66 to $1.70. For the next year, analysts forecast that the company will report earnings of $1.85 per share, with EPS estimates ranging from $1.76 to $1.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow MGIC Investment.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. MGIC Investment had a return on equity of 11.08% and a net margin of 39.04%. The firm had revenue of $302.28 million for the quarter, compared to analyst estimates of $301.73 million. During the same period in the prior year, the firm posted $0.49 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis.

Separately, Zacks Investment Research raised shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Tuesday, April 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $13.53.

Several hedge funds have recently made changes to their positions in MTG. Meeder Asset Management Inc. raised its stake in MGIC Investment by 58.3% during the first quarter. Meeder Asset Management Inc. now owns 3,042 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 1,120 shares in the last quarter. Perigon Wealth Management LLC bought a new position in MGIC Investment in the 4th quarter valued at approximately $43,000. Mercer Global Advisors Inc. ADV acquired a new stake in MGIC Investment in the third quarter valued at approximately $95,000. Wealthcare Advisory Partners LLC bought a new stake in shares of MGIC Investment during the first quarter worth $105,000. Finally, CI Investments Inc. lifted its stake in shares of MGIC Investment by 430.3% in the 4th quarter. CI Investments Inc. now owns 10,468 shares of the insurance provider’s stock valued at $131,000 after acquiring an additional 8,494 shares during the last quarter. Institutional investors and hedge funds own 89.86% of the company’s stock.

Shares of MTG stock traded up $0.05 on Tuesday, hitting $15.40. The company’s stock had a trading volume of 126,794 shares, compared to its average volume of 3,361,907. MGIC Investment has a fifty-two week low of $6.05 and a fifty-two week high of $15.68. The company has a market capitalization of $5.22 billion, a PE ratio of 11.58, a PEG ratio of 1.67 and a beta of 1.84. The stock’s 50 day moving average is $13.99 and its 200-day moving average is $12.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.50 and a current ratio of 0.50.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 27th. Shareholders of record on Thursday, May 13th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, May 12th. MGIC Investment’s dividend payout ratio is presently 13.04%.

About MGIC Investment

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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