Equities Analysts Set Expectations for MGIC Investment Corp.’s FY2020 Earnings (NYSE:MTG)

MGIC Investment Corp. (NYSE:MTG) – Equities research analysts at B. Riley decreased their FY2020 earnings estimates for MGIC Investment in a research note issued on Monday, March 23rd. B. Riley analyst R. Binner now forecasts that the insurance provider will post earnings per share of $1.65 for the year, down from their previous estimate of $1.85. B. Riley currently has a “Buy” rating and a $14.00 price objective on the stock.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07. MGIC Investment had a return on equity of 16.41% and a net margin of 55.50%. The business had revenue of $311.60 million for the quarter, compared to analyst estimates of $307.10 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year.

Several other equities analysts have also issued reports on MTG. BTIG Research reaffirmed a “buy” rating and set a $18.00 price target on shares of MGIC Investment in a research note on Thursday, February 6th. Royal Bank of Canada cut their price target on MGIC Investment from $16.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, ValuEngine raised MGIC Investment from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. MGIC Investment has a consensus rating of “Buy” and a consensus target price of $14.70.

Shares of MTG opened at $8.26 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. MGIC Investment has a 12-month low of $4.34 and a 12-month high of $15.24. The firm has a market capitalization of $2.06 billion, a PE ratio of 4.44, a price-to-earnings-growth ratio of 0.69 and a beta of 1.47. The stock’s fifty day simple moving average is $11.53 and its 200-day simple moving average is $13.19.

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, February 10th. MGIC Investment’s dividend payout ratio (DPR) is presently 13.04%.

In other news, CAO Julie K. Sperber sold 5,535 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $14.28, for a total transaction of $79,039.80. Following the transaction, the chief accounting officer now owns 82,239 shares of the company’s stock, valued at $1,174,372.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in MGIC Investment during the 4th quarter worth approximately $25,000. Smith Asset Management Group LP increased its stake in MGIC Investment by 100.0% in the fourth quarter. Smith Asset Management Group LP now owns 1,900 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 950 shares in the last quarter. Advisory Alpha LLC bought a new stake in MGIC Investment in the fourth quarter valued at approximately $28,000. Chevy Chase Trust Holdings Inc. bought a new stake in MGIC Investment in the fourth quarter valued at approximately $39,000. Finally, Advisory Services Network LLC raised its holdings in MGIC Investment by 81.3% in the fourth quarter. Advisory Services Network LLC now owns 3,263 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 1,463 shares during the period. 91.33% of the stock is owned by institutional investors.

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 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.

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

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