Recap: MGIC Investment Q4 Earnings
Portfolio Pulse from Benzinga Insights
MGIC Investment (NYSE:MTG) reported Q4 earnings with an EPS of $0.67, beating estimates by 17.54% but with a revenue decline of $8.30 million year-over-year. The company has a history of surpassing EPS estimates, which in the past has led to a slight increase in share price the following day.
January 31, 2024 | 9:10 pm
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MGIC Investment reported a strong Q4 earnings beat with an EPS of $0.67, surpassing the estimate of $0.57. However, revenues declined compared to the same period last year.
MGIC Investment's positive earnings surprise is likely to be viewed favorably by investors, given the company's track record of beating EPS estimates and the subsequent positive stock price reaction historically. However, the decline in revenue may temper some of the optimism, leading to a mixed but overall positive short-term impact.
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