MGIC Investment (MTG - Free Report) reported $284.72 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 2.1%. EPS of $0.67 for the same period compares to $0.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $302.96 million, representing a surprise of -6.02%. The company delivered an EPS surprise of +17.54%, with the consensus EPS estimate being $0.57.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MGIC performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- GAAP underwriting expense ratio (insurance operations only): 24.6% compared to the 22.7% average estimate based on two analysts.
- GAAP loss ratio (insurance operations only): -4.2% compared to the 11.9% average estimate based on two analysts.
- Revenues- Net investment income: $57.80 million versus the two-analyst average estimate of $57.04 million. The reported number represents a year-over-year change of +24.7%.
- Revenues- Net premiums earned: $226.45 million compared to the $245.55 million average estimate based on two analysts. The reported number represents a change of -7.2% year over year.
- Revenues- Other revenue: $0.47 million compared to the $0.37 million average estimate based on two analysts. The reported number represents a change of -5.7% year over year.
View all Key Company Metrics for MGIC here>>>Shares of MGIC have returned +4.6% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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MGIC Investment (MTG - Free Report) reported $284.72 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 2.1%. EPS of $0.67 for the same period compares to $0.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $302.96 million, representing a surprise of -6.02%. The company delivered an EPS surprise of +17.54%, with the consensus EPS estimate being $0.57.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MGIC performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- GAAP underwriting expense ratio (insurance operations only): 24.6% compared to the 22.7% average estimate based on two analysts.
- GAAP loss ratio (insurance operations only): -4.2% compared to the 11.9% average estimate based on two analysts.
- Revenues- Net investment income: $57.80 million versus the two-analyst average estimate of $57.04 million. The reported number represents a year-over-year change of +24.7%.
- Revenues- Net premiums earned: $226.45 million compared to the $245.55 million average estimate based on two analysts. The reported number represents a change of -7.2% year over year.
- Revenues- Other revenue: $0.47 million compared to the $0.37 million average estimate based on two analysts. The reported number represents a change of -5.7% year over year.
View all Key Company Metrics for MGIC here>>>Shares of MGIC have returned +4.6% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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