Earnings and Growth Analysis : MGIC Investment (NYSE:MTG)

Earnings results for MGIC Investment (NYSE:MTG)

MGIC Investment Corporation is expected* to report earnings on 08/04/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.42. The reported EPS for the same quarter last year was $0.03.

MGIC Investment last announced its earnings data on May 5th, 2021. The insurance provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company earned $295.74 million during the quarter. MGIC Investment has generated $1.32 earnings per share over the last year ($1.29 diluted earnings per share) and currently has a price-to-earnings ratio of 10.6. Earnings for MGIC Investment are expected to grow by 10.71% in the coming year, from $1.68 to $1.86 per share. MGIC Investment has confirmed that its next quarterly earnings report will be published on Wednesday, August 4th, 2021. MGIC Investment will be holding an earnings conference call on Thursday, August 5th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on MGIC Investment (NYSE:MTG)

4 Wall Street analysts have issued ratings and price targets for MGIC Investment in the last 12 months. Their average twelve-month price target is $15.40, predicting that the stock has a possible upside of 12.24%. The high price target for MTG is $17.00 and the low price target for MTG is $13.00. There are currently 4 buy ratings for the stock, resulting in a consensus rating of “Buy.”

MGIC Investment has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $15.40, MGIC Investment has a forecasted upside of 12.2% from its current price of $13.72. MGIC Investment has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: MGIC Investment (NYSE:MTG)

MGIC Investment pays a meaningful dividend of 1.73%, higher than the bottom 25% of all stocks that pay dividends. MGIC Investment has only been increasing its dividend for 1 years. The dividend payout ratio of MGIC Investment is 18.18%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MGIC Investment will have a dividend payout ratio of 12.90% next year. This indicates that MGIC Investment will be able to sustain or increase its dividend.

Insiders buying/selling: MGIC Investment (NYSE:MTG)

In the past three months, MGIC Investment insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,151,934.00 in company stock. Only 0.67% of the stock of MGIC Investment is held by insiders. 93.03% of the stock of MGIC Investment is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of MGIC Investment (NYSE:MTG

Earnings for MGIC Investment are expected to grow by 10.71% in the coming year, from $1.68 to $1.86 per share. The P/E ratio of MGIC Investment is 10.64, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 21.22. The P/E ratio of MGIC Investment is 10.64, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.89. MGIC Investment has a PEG Ratio of 1.64. PEG Ratios above 1 indicate that a company could be overvalued. MGIC Investment has a P/B Ratio of 0.99. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

More latest stories: here