MGIC Investment (NYSE: MTG) announced its earnings results on Thursday. The company reported ($1.91) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.77) by $0.14. The company had revenue of $371.40 million for the quarter, compared to the consensus estimate of $322.32 million. During the same quarter in the prior year, the company posted ($0.67) earnings per share. The company’s quarterly revenue was down 16.9% on a year-over-year basis.
Several analysts have also recently commented on the stock. Analysts at Compass Point raised their price target on shares of MGIC Investment from $2.50 to $3.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Analysts at Macquarie downgraded shares of MGIC Investment from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, January 25th. They now have a $1.00 price target on the stock.
One research analyst has rated the stock with a buy rating, and three have issued a sell rating to the stock. The company presently has a consensus rating of “underweight” and a consensus price target of $1.62.
Shares of MGIC Investment (MTG) traded down 8.57% during mid-day trading on Thursday, hitting $2.56. MGIC Investment (MTG) has a one year low of $0.66 and a one year high of $5.15. The stock’s 50-day moving average is currently $2.7. The company’s market cap is $517.2 million.
MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance in the United States.
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