MGIC Investment Corporation Expected to Post FY2017 Earnings of $1.20 Per Share (MTG)

MGIC Investment Corporation (NYSE:MTG) – FBR & Co increased their FY2017 earnings per share estimates for MGIC Investment Corporation in a report released on Tuesday, Zacks Investment Research reports. FBR & Co analyst R. Binner now anticipates that the insurance provider will post earnings per share of $1.20 for the year, up from their prior estimate of $1.10. FBR & Co currently has a “Buy” rating on the stock. FBR & Co also issued estimates for MGIC Investment Corporation’s FY2018 earnings at $1.20 EPS.

Several other equities research analysts also recently issued reports on the stock. B. Riley reiterated a “buy” rating on shares of MGIC Investment Corporation in a research note on Monday, November 6th. Deutsche Bank AG cut shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating and set a $13.50 price target on the stock. in a report on Friday, November 3rd. Zacks Investment Research raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, October 23rd. Bank of America Corporation increased their price target on shares of MGIC Investment Corporation from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, October 20th. Finally, MKM Partners increased their price target on shares of MGIC Investment Corporation to $16.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. MGIC Investment Corporation currently has a consensus rating of “Buy” and an average price target of $14.08.

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Shares of MGIC Investment Corporation (MTG) traded down $0.02 during trading hours on Thursday, reaching $13.40. 1,873,800 shares of the company traded hands, compared to its average volume of 3,430,668. MGIC Investment Corporation has a twelve month low of $8.45 and a twelve month high of $14.50. The firm has a market cap of $4,973.01, a P/E ratio of 11.00, a P/E/G ratio of 2.22 and a beta of 2.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.18.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Evanston Investments Inc. dba Evanston Advisors boosted its position in shares of MGIC Investment Corporation by 3.4% during the 2nd quarter. Evanston Investments Inc. dba Evanston Advisors now owns 285,807 shares of the insurance provider’s stock worth $3,201,000 after acquiring an additional 9,521 shares in the last quarter. James Investment Research Inc. boosted its position in shares of MGIC Investment Corporation by 304.4% during the 2nd quarter. James Investment Research Inc. now owns 164,289 shares of the insurance provider’s stock worth $1,840,000 after acquiring an additional 123,667 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of MGIC Investment Corporation by 40.9% during the 2nd quarter. Prudential Financial Inc. now owns 2,426,760 shares of the insurance provider’s stock worth $27,180,000 after acquiring an additional 704,210 shares in the last quarter. CI Investments Inc. boosted its position in shares of MGIC Investment Corporation by 375.2% during the 2nd quarter. CI Investments Inc. now owns 109,300 shares of the insurance provider’s stock worth $1,224,000 after acquiring an additional 86,300 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its position in shares of MGIC Investment Corporation by 42.2% during the 2nd quarter. Capital Fund Management S.A. now owns 715,143 shares of the insurance provider’s stock worth $8,010,000 after acquiring an additional 212,108 shares in the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.

MGIC Investment Corporation 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.

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Earnings History and Estimates for MGIC Investment Corporation (NYSE:MTG)

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