At the time of writing, MGIC Investment Corp [MTG] stock is trading at $19.91, up 2.68%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The MTG shares have gain 3.43% over the last week, with a monthly amount drifted -0.99%, and not seem to be holding up well over a long-time horizon.
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On 31, January 2024, MGIC Investment Corporation Reports Fourth Quarter 2023 Results. In a post published today on Yahoo Finance, Fourth Quarter 2023 Net Income of $184.5 million or $0.66 per Diluted Share.
From an analyst’s perspective:
MGIC Investment Corp [NYSE: MTG] stock has seen the most recent analyst activity on December 06, 2023, when UBS initiated its Neutral rating and assigned the stock a price target of $18.50. Previously, Barclays started tracking the stock with Equal Weight rating on November 15, 2023, and set its price target to $19. On July 06, 2023, downgrade downgraded it’s rating to Sector Perform and revised its price target to $15.70 on the stock. Compass Point upgraded its rating to a Buy but stick to its price target of $18 on April 11, 2023. Barclays downgraded its rating to a Equal Weight and reduced its price target to $14 on January 06, 2023. Compass Point downgraded its rating to Neutral for this stock on November 09, 2022, and downed its price target to $14.50. In a note dated August 18, 2022, BofA Securities upgraded an Buy rating on this stock but restated the target price of $18.
For the past year, the stock price of MGIC Investment Corp fluctuated between $12.15 and $20.26. Currently, Wall Street analysts expect the stock to reach $15 within the next 12 months. MGIC Investment Corp [NYSE: MTG] shares were valued at $19.91 at the most recent close of the market. An investor can expect a potential drop of -24.66% based on the average MTG price forecast.
Analyzing the MTG fundamentals
According to MGIC Investment Corp [NYSE:MTG], the company’s sales were 1.16B for trailing twelve months, which represents an -2.84% plunge. Gross Profit Margin for this corporation currently stands at 0.85% with Operating Profit Margin at 0.78%, Pretax Profit Margin comes in at 0.78%, and Net Profit Margin reading is 0.62%. To continue investigating profitability, this company’s Return on Assets is posted at 0.11, Equity is 0.15 and Total Capital is 0.15. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.13.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 19.47 points at the first support level, and at 19.04 for the second support level. However, for the 1st resistance point, the stock is sitting at 20.19, and for the 2nd resistance point, it is at 20.48.
MGIC Investment Corp [MTG] reported earnings per share of $0.67 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.57/share, meaning a difference of $0.1 and a surprise factor of 17.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.64 per share as compared to estimates of $0.56 per share, a difference of $0.08 representing a surprise of 14.30%.
Ratios To Look Out For
It is important to note that MGIC Investment Corp [NYSE:MTG] has a current ratio of 2.58. Considering the valuation of this stock, the price to sales ratio is 4.65, the price to book ratio is 1.07 and price to earnings (TTM) ratio is 8.01.
