MGIC Investment (NYSE:MTG) Issues Earnings Results

MGIC Investment (NYSE:MTG) issued its quarterly earnings data on Monday. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10, Briefing.com reports. The business had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS.

MGIC Investment Stock Down 0.2 %

MTG stock opened at $23.52 on Tuesday. The business has a 50 day moving average of $25.28 and a 200 day moving average of $23.14. The firm has a market cap of $6.10 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28. MGIC Investment has a twelve month low of $17.25 and a twelve 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 business 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. The ex-dividend date 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 currently 19.19%.

Analyst Ratings Changes

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