MGIC Investment Corp. (MTG) Expected to Earn FY2018 Earnings of $1.40 Per Share

MGIC Investment Corp. (NYSE:MTG) – B. Riley upped their FY2018 earnings per share (EPS) estimates for shares of MGIC Investment in a research note issued to investors on Thursday. B. Riley analyst R. Binner now forecasts that the insurance provider will earn $1.40 per share for the year, up from their prior forecast of $1.20. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for MGIC Investment’s FY2019 earnings at $1.50 EPS.

MTG has been the subject of a number of other reports. BTIG Research boosted their price target on MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research downgraded MGIC Investment from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Deutsche Bank downgraded MGIC Investment from a “buy” rating to a “hold” rating and set a $13.50 price target for the company. in a report on Friday, November 3rd. Barclays boosted their price target on MGIC Investment from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Finally, FBR & Co reissued a “buy” rating on shares of MGIC Investment in a report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.98.

MGIC Investment (NYSE:MTG) opened at $14.33 on Friday. MGIC Investment has a twelve month low of $9.68 and a twelve month high of $15.64. The stock has a market capitalization of $5,291.69, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.28 and a beta of 2.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. MGIC Investment had a return on equity of 16.41% and a net margin of 41.08%. The company had revenue of $270.30 million during the quarter, compared to the consensus estimate of $267.85 million. During the same period in the previous year, the company posted $0.14 earnings per share. MGIC Investment’s revenue for the quarter was down 1.3% on a year-over-year basis.

Several institutional investors have recently bought and sold shares of MTG. Wealthcare Advisory Partners LLC purchased a new stake in shares of MGIC Investment in the third quarter valued at approximately $107,000. Advisors Asset Management Inc. purchased a new stake in shares of MGIC Investment in the second quarter valued at approximately $121,000. Sawgrass Asset Management LLC purchased a new stake in shares of MGIC Investment in the second quarter valued at approximately $123,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of MGIC Investment in the second quarter valued at approximately $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MGIC Investment by 11.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,009 shares of the insurance provider’s stock valued at $146,000 after buying an additional 1,312 shares in the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “MGIC Investment Corp. (MTG) Expected to Earn FY2018 Earnings of $1.40 Per Share” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.com-unik.info/2018/01/06/mgic-investment-corp-mtg-expected-to-earn-fy2018-earnings-of-1-40-per-share.html.

MGIC Investment Company Profile

MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.

What are top analysts saying about MGIC Investment? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for MGIC Investment and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit