MGIC Investment (MTG) to Release Earnings on Wednesday

MGIC Investment (NYSE:MTG) will be announcing its earnings results after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $0.62 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 earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $294.40 million for the quarter, compared to the consensus estimate of $301.62 million. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. MGIC Investment’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. 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 Price Performance

NYSE:MTG opened at $24.53 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.54 billion, a P/E ratio of 9.43, a P/E/G ratio of 3.06 and a beta of 1.28. MGIC Investment has a 12 month low of $16.30 and a 12 month high of $24.97. The business’s 50-day moving average is $21.72 and its 200 day moving average is $20.78.

MGIC Investment Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.13 per share. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.12%. MGIC Investment’s dividend payout ratio is currently 17.69%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded MGIC Investment from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $24.00 to $25.00 in a report on Monday, June 3rd. Barclays raised their target price on MGIC Investment from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Finally, UBS Group raised their price target on shares of MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.17.

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.