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MGIC Investment (MTG)
NYSE:MTG
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.67Last Year’s EPS
$0.67Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: -0.32%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance, effective capital management, and positive credit performance, with some challenges anticipated from persistency fluctuations and potential hurricane impacts. Market share growth and a robust reinsurance strategy further bolstered the positive outlook.Company Guidance
During the MGIC Investment Corporation's Q3 2024 earnings call, significant financial metrics were highlighted, showcasing the company's robust performance and strategic initiatives. MGIC reported a net income of $200 million, with an annualized return on equity of 15.6%. The company noted an insurance in force of $293 billion and a persistency rate of 85%. New insurance written increased by 27% from the prior quarter, amounting to $17.2 billion. MGIC's capital management strategies included the repurchase of 5.2 million shares for $123 million and a quarterly dividend payment of $34 million, representing a 79% payout ratio of the quarter's net income. Additionally, an extra 2.9 million shares were repurchased in October for $72 million. The company's capital structure was bolstered by $6 billion in PMIERs available assets, with reinsurance agreements reducing PMIERs required assets by $2.2 billion. Despite challenges in the housing market, MGIC remains optimistic, supported by favorable credit performance and demographic trends.Strong Financial Performance
Net income of $200 million with an annualized return on equity of 15.6%. Insurance in force ended the quarter at $293 billion. New insurance written was $17.2 billion, up 27% from the prior quarter.
Effective Capital Management
Repurchased 5.2 million shares for $123 million and paid a quarterly dividend of $34 million. Additional 2.9 million shares repurchased in October for $72 million.
Positive Credit Performance
Favorable loss reserve development of $66 million due to better-than-expected cure rates on delinquencies. Delinquency rate of 2.24% remains below pre-pandemic levels.
Strong Reinsurance Program
PMIERs available assets stood at $6 billion, with reinsurance agreements reducing required assets by $2.2 billion or 40%.
Market Share Growth
Achieved market share growth with a competitive pricing strategy in the risk-based pricing environment.
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MTG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MTG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $23.40 | $23.72 | +1.37% |
| Jul 31, 2024 | $24.57 | $24.25 | -1.30% |
| May 01, 2024 | $20.22 | $20.18 | -0.20% |
| Jan 31, 2024 | $19.40 | $19.53 | +0.67% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does MGIC Investment (MTG) report earnings?
MGIC Investment (MTG) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is MGIC Investment (MTG) earnings time?
MGIC Investment (MTG) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MTG EPS forecast?
MTG EPS forecast for the fiscal quarter 2024 (Q4) is $0.67.
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