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

MGIC Investment (NYSE:MTG) will be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The company had revenue of $284.72 million during the quarter, compared to the consensus estimate 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 %

Shares of MTG stock opened at $20.56 on Tuesday. The firm has a fifty day moving average of $20.48 and a 200-day moving average of $19.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. MGIC Investment has a 12-month low of $13.97 and a 12-month high of $22.43. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.26, a P/E/G ratio of 1.69 and a beta of 1.24.

MGIC Investment Dividend Announcement

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

Wall Street Analysts Forecast Growth

MTG has been the subject of several recent research reports. Roth Mkm increased their target price on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada increased their target price on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment presently has an average rating of “Hold” and a consensus price target of $21.08.

MGIC Investment Company Profile

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.