MGIC Investment (MTG) Set to Announce 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. Persons interested in participating in the company’s earnings conference call can do so using this link.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The business had revenue of $305.28 million during the quarter, compared to analysts’ expectations of $301.02 million. During the same quarter last year, the business posted $0.68 earnings per share. The business’s revenue for the quarter 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 Trading Down 5.9 %

Shares of MTG stock opened at $23.57 on Friday. MGIC Investment has a fifty-two week low of $16.95 and a fifty-two week high of $26.52. The stock has a market cap of $6.11 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.35 and a beta of 1.28. The business has a fifty day simple moving average of $25.31 and a 200-day simple moving average of $23.06. 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 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s dividend payout ratio is currently 19.19%.

Analysts Set New Price Targets

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

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, 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.