MGIC Investment (NYSE:MTG) Announces Earnings Results

MGIC Investment (NYSE:MTG) released its quarterly earnings data on Monday. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.11, Briefing.com reports. The firm had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 15.14%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share.

MGIC Investment Trading Up 4.1 %

Shares of MTG opened at $24.82 on Thursday. MGIC Investment has a fifty-two week low of $17.25 and a fifty-two week high of $26.52. The business has a 50-day moving average of $25.25 and a 200 day moving average of $23.17. The firm has a market cap of $6.43 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given 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 2.10%. MGIC Investment’s dividend payout ratio is presently 18.31%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BTIG Research lifted their price target on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada cut their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Roth Mkm increased their price target on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays lifted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

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.