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

MGIC Investment

31/07/2024 22:02

* MGIC Investment Corp  MTG.N  reported quarterly adjusted
earnings of 77 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 68 cents.  The mean expectation of nine analysts
for the quarter was for earnings of 64 cents per share. Wall
Street expected results to range from 61 cents to 65 cents per
share.
    * Revenue rose 5% to $305.28 million from a year ago;
analysts
expected $301.03 million. 
    * MGIC Investment Corp's reported EPS for the quarter was 77
cents​.
    * The company reported quarterly net income of $204.23
million.
    * MGIC Investment Corp shares had risen by 14.9% this
quarter and
gained 28.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.8%
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 6 "strong buy" or "buy," 3
"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 $23.00 
This summary was machine generated from LSEG data July 31 at
09:02 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
 Jun. 30 2024      0.64           0.77           Beat
 Mar. 31 2024      0.60           0.65           Beat
 Dec. 31 2023      0.57           0.67           Beat
 Sep. 30 2023      0.56           0.64           Beat