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MGIC (MTG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, MGIC Investment (MTG - Free Report) reported revenue of $302.87 million, up 3.8% over the same period last year. EPS came in at $0.65, compared to $0.54 in the year-ago quarter.
The reported revenue represents a surprise of -0.40% over the Zacks Consensus Estimate of $304.08 million. With the consensus EPS estimate being $0.60, the EPS surprise was +8.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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): 25.7% versus 23.3% estimated by two analysts on average.
GAAP loss ratio (insurance operations only): 1.9% versus 8.1% estimated by two analysts on average.
Revenues- Net investment income: $59.74 million versus the two-analyst average estimate of $55.91 million. The reported number represents a year-over-year change of +21.4%.
Revenues- Net premiums earned: $242.64 million versus the two-analyst average estimate of $247.78 million. The reported number represents a year-over-year change of +0.3%.
Revenues- Other revenue: $0.48 million versus the two-analyst average estimate of $0.39 million. The reported number represents a year-over-year change of +13.4%.
Shares of MGIC have returned -7.2% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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MGIC (MTG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, MGIC Investment (MTG - Free Report) reported revenue of $302.87 million, up 3.8% over the same period last year. EPS came in at $0.65, compared to $0.54 in the year-ago quarter.
The reported revenue represents a surprise of -0.40% over the Zacks Consensus Estimate of $304.08 million. With the consensus EPS estimate being $0.60, the EPS surprise was +8.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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): 25.7% versus 23.3% estimated by two analysts on average.
- GAAP loss ratio (insurance operations only): 1.9% versus 8.1% estimated by two analysts on average.
- Revenues- Net investment income: $59.74 million versus the two-analyst average estimate of $55.91 million. The reported number represents a year-over-year change of +21.4%.
- Revenues- Net premiums earned: $242.64 million versus the two-analyst average estimate of $247.78 million. The reported number represents a year-over-year change of +0.3%.
- Revenues- Other revenue: $0.48 million versus the two-analyst average estimate of $0.39 million. The reported number represents a year-over-year change of +13.4%.
View all Key Company Metrics for MGIC here>>>Shares of MGIC have returned -7.2% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.