MTG Reports Q1 Revenue of $297.08 Million, Exceeding Expectations
MGIC Investment Corp (MTG) reported Q1 revenue of $297.08 million, slightly missing analyst expectations but with the CEO expressing optimism due to strong execution. The company boasts a GF Score™ of 89/100, indicating robust overall performance, particularly in profitability and growth, despite recent insider selling activity totalling $6.2 million. Its P/E ratio suggests potential undervaluation, making it a point of interest for investors.
APR 29·MarketBeat▲
MGIC Investment (NYSE:MTG) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS
MGIC Investment (NYSE:MTG) reported Q1 EPS of $0.76, surpassing analyst estimates by $0.03, though revenue of $297.1M missed the forecast. The company also announced a $750 million stock repurchase program and declared a quarterly dividend of $0.15 per share. Analysts have a consensus "Hold" rating with an average target price of $28.50.
APR 6·MarketBeat→
MGIC Investment (NYSE:MTG) Price Target Raised to $29.00 at Barclays
Barclays has raised its price target for MGIC Investment (NYSE:MTG) to $29.00 from $28.00, maintaining an "equal weight" rating and suggesting an 8.03% upside. The report highlights significant insider selling activity over the past quarter, with executives selling shares totaling over $9 million. Despite this, the company holds an average analyst rating of "Hold" with a consensus price target of $28.25.
