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

MGIC Investment

31/10/2023 21:02

* MGIC Investment Corp  MTG.N  reported quarterly adjusted
earnings of 64 cents​​ per share for the quarter ended in
September, lower than the same quarter last year, when the
company reported EPS of 86 cents.The mean expectation of
seven analysts for the quarter was for earnings of 56 cents per
share. Wall Street expected results to range from 54 cents to 59
cents per share.
    * Revenue rose 1.3% to $296.51 million from a year ago;
analysts
expected $296.29 million. 
    * MGIC Investment Corp's reported EPS for the quarter was 64
cents​.
    * The company reported quarterly net income of $182.84
million.
    * MGIC Investment Corp shares had held steady so far this
quarter and gained 28.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.4%
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," 2
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for MGIC
Investment
Corp is $20.00 

This summary was machine generated from LSEG data October 31 at
09:02 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.56           0.64           Beat
 Jun. 30 2023      0.53           0.68           Beat
 Mar. 31 2023      0.50           0.54           Beat
 Dec. 31 2022      0.53           0.65           Beat