MGIC Investment Q3: Home Prices Limit Potential Losses, But Hold Due To Valuation Concerns
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MGIC Investment's Q3 report shows a 3% revenue increase and $0.77 adjusted EPS, benefiting from high home prices and low delinquencies. Despite a 34% gain over the past year, shares recently fell 10% due to US housing market concerns. The company continues strong capital returns via buybacks and dividends.
November 05, 2024 | 12:30 pm
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MGIC Investment reported a 3% revenue increase and $0.77 adjusted EPS for Q3, benefiting from high home prices and low delinquencies. Despite a 34% gain over the past year, shares fell 10% due to US housing market concerns. The company maintains strong capital returns through buybacks and dividends.
MGIC Investment's Q3 results show solid performance with a 3% revenue increase and $0.77 EPS, supported by high home prices and low delinquencies. However, the recent 10% share price drop reflects market concerns over the US housing sector. The company's ongoing buybacks and dividends provide some support, but valuation concerns may limit short-term upside.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100