These Analysts Increase Their Forecasts On MGIC Investment Following Q4 Results
Portfolio Pulse from Avi Kapoor
MGIC Investment Corporation (NYSE:MTG) reported Q4 earnings surpassing expectations with adjusted earnings of 67 cents per share against estimates of 57 cents. However, sales of $283.96 million fell short of the expected $292.72 million. CEO Tim Mattke highlighted the company's successful year and its readiness for 2024. Following the report, RBC Capital and Roth MKM raised their price targets for MTG, despite a slight 0.4% drop in its shares to $19.90.
February 02, 2024 | 6:25 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
MGIC Investment Corporation exceeded Q4 earnings expectations but missed on sales, with analysts raising price targets post-report.
The positive earnings report and subsequent analyst upgrades suggest a bullish outlook for MTG. Despite a minor share price drop, the raised price targets by RBC Capital and Roth MKM indicate a strong belief in the company's future performance, potentially leading to increased investor confidence and a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100