MGIC Investment (MTG) Set to Announce Quarterly Earnings on Monday

MGIC Investment (NYSE:MTG) is set to issue its quarterly earnings data after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

MGIC Investment (NYSE:MTG) last posted its earnings results 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 business had revenue of $305.28 million for the quarter, compared to analysts’ expectations of $301.02 million. During the same period in the previous year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. 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 Stock Down 2.6 %

Shares of NYSE MTG opened at $24.89 on Monday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.35 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. The stock’s 50-day simple moving average is $25.25 and its 200-day simple moving average is $22.90. MGIC Investment has a 1 year low of $16.32 and a 1 year high of $26.52.

MGIC Investment Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MTG shares. 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. Roth Mkm upped their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, BTIG Research increased their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment currently has a consensus rating of “Moderate Buy” and an average 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.