Q4 2017 Earnings Forecast for MGIC Investment Corporation Issued By B. Riley (MTG)

MGIC Investment Corporation (NYSE:MTG) – Stock analysts at B. Riley issued their Q4 2017 earnings per share (EPS) estimates for shares of MGIC Investment in a note issued to investors on Monday. B. Riley analyst R. Binner forecasts that the insurance provider will post earnings per share of $0.26 for the quarter. B. Riley has a “Buy” rating on the stock.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data 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 had a net margin of 41.08% and a return on equity of 16.41%. The firm had revenue of $270.30 million for the quarter, compared to the consensus estimate of $267.85 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year.

MTG has been the topic of several other research reports. Deutsche Bank downgraded shares of MGIC Investment from a “buy” rating to a “hold” rating and set a $13.50 price objective on the stock. in a report on Friday, November 3rd. Bank of America increased their price target on shares of MGIC Investment from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 20th. MKM Partners increased their price target on shares of MGIC Investment to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. BTIG Research reiterated a “buy” rating and issued a $14.00 price target on shares of MGIC Investment in a report on Saturday, October 14th. Finally, Compass Point reaffirmed a “buy” rating and set a $15.25 price objective (up previously from $13.00) on shares of MGIC Investment in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.34.

MGIC Investment (MTG) opened at $15.45 on Wednesday. MGIC Investment has a fifty-two week low of $9.40 and a fifty-two week high of $15.53. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5,706.73, a PE ratio of 12.62, a PEG ratio of 1.50 and a beta of 2.26.

Large investors have recently made changes to their positions in the company. AJO LP purchased a new position in MGIC Investment in the 2nd quarter valued at $54,935,000. Janus Henderson Group PLC purchased a new position in MGIC Investment in the 2nd quarter valued at $45,117,000. Vanguard Group Inc. lifted its holdings in MGIC Investment by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock valued at $389,244,000 after purchasing an additional 3,120,511 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of MGIC Investment by 29.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,197,831 shares of the insurance provider’s stock worth $147,815,000 after acquiring an additional 3,013,777 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of MGIC Investment by 98.6% in the 2nd quarter. Westfield Capital Management Co. LP now owns 4,238,647 shares of the insurance provider’s stock worth $47,473,000 after acquiring an additional 2,104,047 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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MGIC Investment 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.

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

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