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Market Overview

Recap: MGIC Investment Q4 Earnings

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Shares of MGIC Investment (NYSE:MTG) fell in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share fell 12.24% year over year to $0.43, which beat the estimate of $0.40.

Revenue of $302,281,000 decreased by 3.00% year over year, which beat the estimate of $301,140,000.

Outlook

MGIC Investment hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

52-week high: $13.83

52-week low: $4.34

Price action over last quarter: Up 23.54%

Company Profile

MGIC Investment Corp provides private mortgage insurance and other services to mortgage lenders, covering them against defaults by homeowners on residential mortgages. The insurance premiums that these customers pay for the protection accounts for close to 90% of the company's total revenue. Investment income accounts for most of the remaining revenue. The company sells its insurance products in all 50 states of the United States and in Puerto Rico. Its greatest exposure is in California, Florida, Texas, Pennsylvania, and Ohio.

 

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