MGIC Investment (MTG) Projected to Post Earnings on Monday

MGIC Investment (NYSE:MTG) is projected to announce its earnings results after the market closes on Monday, February 3rd. Analysts expect the company to announce earnings of $0.65 per share and revenue of $303.53 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. MGIC Investment’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 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

MTG opened at $25.51 on Friday. MGIC Investment has a 1 year low of $18.68 and a 1 year high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 1.90 and a beta of 1.29. The firm’s fifty day moving average price is $24.55 and its two-hundred day moving average price is $24.70.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Upgrades and Downgrades

Several research firms have commented on MTG. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Finally, Barclays increased their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment currently has an average rating of “Hold” and an average price target of $25.86.

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.