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

MGIC Investment (NYSE:MTG) will release its earnings data after the market closes on Wednesday, May 1st. Analysts expect MGIC Investment to post earnings of $0.60 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The firm had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. On average, analysts expect MGIC Investment to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGIC Investment Stock Up 0.4 %

MGIC Investment stock opened at $20.56 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $19.17. MGIC Investment has a 1-year low of $13.97 and a 1-year high of $22.43. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Thursday, May 9th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Wednesday, May 8th. MGIC Investment’s payout ratio is currently 18.47%.

Analyst Ratings Changes

MTG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $24.00 price target (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Royal Bank of Canada raised their price target on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Roth Mkm raised their price target on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, MGIC Investment has a consensus rating of “Hold” and a consensus price target of $21.08.

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.