Monday, January 30, 2023

MGIC Funding (MTG) Set to Announce Quarterly Earnings on Wednesday

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MGIC Funding (NYSE:MTGGet Score) shall be issuing its quarterly earnings information after the market closes on Wednesday, February 1st. Analysts anticipate the corporate to announce earnings of $0.59 per share for the quarter. Events taken with registering for the corporate’s convention name can achieve this utilizing this hyperlink.

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MGIC Funding (NYSE:MTGGet Score) final launched its earnings outcomes on Wednesday, November 2nd. The insurance coverage supplier reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.31. The enterprise had income of $296.06 million for the quarter, in comparison with the consensus estimate of $322.19 million. MGIC Funding had a return on fairness of 19.66% and a web margin of 72.18%. On common, analysts anticipate MGIC Funding to publish $3 EPS for the present fiscal 12 months and $2 EPS for the subsequent fiscal 12 months.

MGIC Funding Worth Efficiency

Shares of NYSE MTG opened at $13.75 on Wednesday. The enterprise’s 50 day shifting common value is $13.18 and its two-hundred day shifting common value is $13.56. The corporate has a market cap of $4.08 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The corporate has a fast ratio of 0.50, a present ratio of 0.50 and a debt-to-equity ratio of 0.15. MGIC Funding has a twelve month low of $11.38 and a twelve month excessive of $16.41.

MGIC Funding Dividend Announcement

The agency additionally lately declared a quarterly dividend, which was paid on Wednesday, November twenty third. Shareholders of file on Thursday, November tenth got a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized foundation and a yield of two.91%. The ex-dividend date was Wednesday, November ninth. MGIC Funding’s dividend payout ratio (DPR) is presently 14.98%.

Wall Avenue Analyst Weigh In

A variety of equities analysts have weighed in on MTG shares. StockNews.com began protection on MGIC Funding in a analysis report on Wednesday, October twelfth. They set a “purchase” score on the inventory. Compass Level downgraded MGIC Funding from a “purchase” score to a “impartial” score and lowered their value goal for the inventory from $19.00 to $14.50 in a analysis report on Tuesday, November eighth. Barclays downgraded MGIC Funding from an “chubby” score to an “equal weight” score and lowered their value goal for the inventory from $16.00 to $14.00 in a analysis report on Friday, January sixth. Lastly, Credit score Suisse Group lowered their value goal on MGIC Funding to $15.00 in a report on Thursday, October thirteenth. Two analysts have rated the inventory with a maintain score and three have given a purchase score to the corporate. Based mostly on information from MarketBeat.com, the corporate presently has a consensus score of “Average Purchase” and a consensus goal value of $15.75.

Institutional Traders Weigh In On MGIC Funding

A variety of institutional buyers have lately made adjustments to their positions within the firm. Lazard Asset Administration LLC purchased a brand new stake in shares of MGIC Funding within the first quarter valued at roughly $26,000. Covestor Ltd boosted its stake in shares of MGIC Funding by 84.1% within the first quarter. Covestor Ltd now owns 9,642 shares of the insurance coverage supplier’s inventory valued at $131,000 after shopping for a further 4,404 shares in the course of the interval. Beacon Pointe Advisors LLC purchased a brand new stake in shares of MGIC Funding within the first quarter valued at roughly $154,000. Vanguard Customized Indexing Administration LLC boosted its stake in shares of MGIC Funding by 14.0% within the second quarter. Vanguard Customized Indexing Administration LLC now owns 13,268 shares of the insurance coverage supplier’s inventory valued at $167,000 after shopping for a further 1,630 shares in the course of the interval. Lastly, Discussion board Monetary Administration LP purchased a brand new stake in shares of MGIC Funding within the first quarter valued at roughly $196,000. Institutional buyers personal 96.95% of the corporate’s inventory.

About MGIC Funding

(Get Score)

MGIC Funding Corp. is a non-public mortgage insurer that serves lenders all through the US, and Puerto Rico. It additionally supplies lenders with underwriting and different companies and merchandise associated to residence mortgage lending by way of its subsidiaries, resembling Mortgage Warranty Insurance coverage Corp. and MGIC Indemnity Corp.

Additional Studying

Earnings History for MGIC Investment (NYSE:MTG)

This prompt information alert was generated by narrative science know-how and monetary information from MarketBeat as a way to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial group previous to publication. Please ship any questions or feedback about this story to contact@marketbeat.com.

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