MGIC Investment (NYSE:MTG - Get Free Report) announced its earnings results on Monday. The insurance provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11, Briefing.com reports. The business had revenue of $306.65 million during the quarter, compared to analysts' expectations of $306.03 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share.
MGIC Investment Trading Up 1.3 %
Shares of MTG stock traded up $0.31 during mid-day trading on Tuesday, reaching $23.83. The company's stock had a trading volume of 3,366,299 shares, compared to its average volume of 1,769,593. The company's 50 day simple moving average is $25.28 and its 200-day simple moving average is $23.14. MGIC Investment has a 12-month low of $17.25 and a 12-month high of $26.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $6.18 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28.
MGIC Investment Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment's dividend payout ratio is presently 19.19%.
Analyst Ratings Changes
MTG has been the subject of several analyst reports. Barclays increased their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Roth Mkm raised their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, BTIG Research lifted their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, MGIC Investment has a consensus rating of "Moderate Buy" and an average price target of $24.50.
Check Out Our Latest Stock Analysis on MTG
About MGIC Investment
(
Get Free Report)
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.
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