Mgic Investment Corp Reports Results For The Quarter Ended In December: Earnings Summary

MGIC Investment

31/01/2024 22:43

* MGIC Investment Corp  MTG.N  reported quarterly adjusted
earnings of 67 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 65 cents.  The mean expectation of
nine analysts for the quarter was for earnings of 57 cents per
share. Wall Street expected results to range from 49 cents to 61
cents per share.
    * Revenue fell 2.8% to $283.96 million from a year ago;
analysts
expected $292.72 million. 
    * MGIC Investment Corp's reported EPS for the quarter was 66
cents​.
    * The company reported quarterly net income of $184.5
million.
    * MGIC Investment Corp shares had risen by 4.8% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "buy"

Wall Street's median 12-month price target for MGIC Investment
Corp is $20.00 
This summary was machine generated from LSEG data January 31 at
10:42 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.57           0.67           Beat
 Sep. 30 2023      0.56           0.64           Beat
 Jun. 30 2023      0.53           0.68           Beat
 Mar. 31 2023      0.50           0.54           Beat