MGIC Investment Q2 EPS $0.68 Beats $0.53 Estimate, Sales $290.70M Miss $292.51M Estimate
Portfolio Pulse from Benzinga Newsdesk
MGIC Investment (NYSE:MTG) reported Q2 earnings of $0.68 per share, beating the analyst consensus estimate of $0.53 by 28.3%. However, this is a 16.05% decrease from the same period last year. The company's quarterly sales were $290.70 million, missing the analyst consensus estimate of $292.51 million by 0.62%, and a 0.82% decrease from the same period last year.
August 04, 2023 | 12:06 pm
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NEUTRAL IMPACT
MGIC Investment's Q2 earnings beat estimates but decreased 16.05% YoY. Sales missed estimates and decreased 0.82% YoY.
While MGIC Investment beat earnings estimates, the YoY decrease in both earnings and sales could potentially offset any positive sentiment. The impact on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100