Mgic Investment Corp Reports Results For The Quarter Ended In September 30: Earnings Summary

MGIC Investment

05/11/2024 07:53

* MGIC Investment Corp  MTG.N  reported quarterly adjusted
earnings of 77 cents​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of 64 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 66 cents per
share. Wall Street expected results to range from 61 cents to 71
cents per share.
    * Revenue rose 3.4% to $306.65 million from a year ago;
analysts
expected $306.02 million. 
    * MGIC Investment Corp's reported EPS for the quarter was 77
cents​.
    * The company reported quarterly net income of $199.97
million.
    * MGIC Investment Corp shares had fallen by 8.1% this
quarter and
gained 21.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.2%
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 4 "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 $28.00 
This summary was machine generated from LSEG data November 5 at
07:52 a.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
 Sep. 30 2024      0.66           0.77           Beat
 Jun. 30 2024      0.64           0.77           Beat
 Mar. 31 2024      0.60           0.65           Beat
 Dec. 31 2023      0.57           0.67           Beat