MGIC Investment (MTG) to Release Quarterly Earnings on Monday

MGIC Investment (NYSE:MTG) is set to release its earnings data after the market closes on Monday, November 4th. Analysts expect MGIC Investment to post earnings of $0.67 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The firm had revenue of $305.28 million during the quarter, compared to analyst estimates of $301.02 million. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue was up 5.0% on a year-over-year basis. On average, analysts expect MGIC Investment to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $23.56 on Friday. The company’s fifty day moving average is $25.31 and its two-hundred day moving average is $23.08. The company has a market cap of $6.11 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28. MGIC Investment has a 12-month low of $16.95 and a 12-month high of $26.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.21%. MGIC Investment’s dividend payout ratio is 19.19%.

Analysts Set New Price Targets

MTG has been the subject of a number of research reports. Barclays raised their price objective on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. BTIG Research increased their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Roth Mkm boosted their price objective on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.50.

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.