MGIC Investment Corporation (NYSE:MTG) private mortgage insurance services provider, is reporting third quarter earnings results on Wednesday 4th November 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.31 per share.
For the full year, analysts predict revenues of $ 1186.35 million, while looking forward to income of $ 1.10 per share.
Previous Quarter Performance
MGIC Investment Corporation communicated income for the second quarter of $ 0.03 per share, from the revenue of $ 293.97 million. According to street consensus, MTG was expected to report 2Q20 income of $ 0.17 per share from revenue of $ 295.15 million. The bottom line results missed street analysts by $ 0.14 or 82.35 percent, at the same time, top line results fell short of analysts by $ 1.18 million or 0.4 percent.
Stock Performance
Shares of MGIC Investment Corporation traded up $ 0.41 or 4.00 percent on Tuesday, reaching $ 10.67 with volume of 3.33 million shares. MGIC Investment Corporation has traded high as $ 10.74 and has cracked $ 10.41 on the downward trend
According to the previous trading day, closing price of $ 10.67, representing a 136.41 % increase from the 52 week low of $ 4.34 and a 32.68 % decrease over the 52 week high of $ 15.24.
The company has a market capital of $ 3.61 billion and is part of the Financial Services sector and Insurance – Specialty industry.
Recent Analyst recommendations
- On 7th October 2020, upgraded by Keefe, Bruyette & Woods to Outperform from Market Perform rating.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.06 per share on July 30, 2020. The dividend were payable on August 28, 2020 to holders of record as of the close of business on August 11, 2020 and ex-dividend date on August 10, 2020.
MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure. It also provides contract underwriting services; and other services for the mortgage finance industry, such as analysis of loan originations and portfolios, and mortgage lead generation services, as well as reinsurance.
