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Monday, January 25, 2021

MGIC Has Been Given a ‘Hold’ Rating By Several Brokerages

The shares of MGIC have been given a rating of ‘hold’ by most brokerage firms that have been working on the stocks of the company. Two out of six research analysts gave the stocks a rating of ‘sell’, while three of them gave a rating of ‘buy’. The target price for the company has been set at $16 by the brokerage firms over the stocks of MGIC. 

There have been quite a few brokerages that have issued reports on the shares of the company. BidaskClub already gave the company a rating of ‘hold’ in one of their research reports that were issued on the 10th of November. William Blair reiterated their rating of ‘outperform’ on the stocks of the company. ValuEngine also cut the shares of the company from a rating of ‘hold’ to ‘sell’. HC Wainwright raised the target price of the company to $17, along with a rating of ‘buy’. 

The Quarterly Earnings of MGIC

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The MGIC stocks traded at $15.11 last Friday. The market cap of the company is $739.47 million, with a beta of 1.15, and a P/E ratio of 43.17. The debt-to-equity ratio of the company is 0.07, with a quick ratio of 2.51, and a current ratio of 2.51. The moving avg price of the company over fifty-day is $14.30, while the moving avg of the company over two-hundred days is $13.04. The company has a low of $6.31, with a high of $16.87, both in a year. 

The company did announce the results of its earnings on the 15th of November. MGIC reported an EPS of $0.19- which comfortably beat out the consensus estimate set at $0.17. The revenue of the firm was $94.89 million, which too exceeded the expectations of analysts of $88.50 million.

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