Mgic Investment Corp (NYSE:MTG) shares traded 0.8% up during most recent session to reach at the closing price of $11.28. The stock exchanged hands 3.69 Million shares versus average trading capacity of 4.89 Million shares, yielding a market cap of $4.18 Billion. Wall Street analysts covering the stock are projecting that the stock will reach $14.38 within the next 52-weeks. The mean target projections are based on 13 opinions.
Taking a broader look brokerage firms’ analysts on the street with an expectant view have Mgic Investment Corp (NYSE:MTG) high price target of $18 and with a conservative view have low price target of $11.5.
Wells Fargo “Downgrades” Mgic Investment Corp (NYSE:MTG) in a research note issued to investors on 4/19/18 to Market Perform.
Additionally on 4/11/18 Barclays “Maintained” Mgic Investment Corp (NYSE:MTG) to Overweight setting price target at $16 and on 4/10/18 Bank of America “Downgrades” the stock to Neutral. Furthermore on 4/10/18 Deutsche Bank “Maintained” the stock to Buy at $15.
On the other hand the company has Relative Strength Index (RSI 14) of 62.16 along with Average True Range (ATR 14) of 0.29, Consequently Mgic Investment Corp (NYSE:MTG)’s weekly and monthly volatility is 3.37%, 2.49% respectively. The company’s beta value is at 1.97.
In terms of Buy, Sell or Hold recommendations, Mgic Investment Corp (NYSE:MTG) has analysts’ mean recommendation of 2.2. This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.
According to analysts Mgic Investment Corp (NYSE:MTG)’s minimum EPS for the current quarter is at $0.3 and can go high up to $0.37. The consensus mean EPS for the current quarter is at $0.35 derived from a total of 14 estimates from the analysts who have weighed in on projected earnings. However the company reported $0.31 earnings per share for the same quarter during last year.
Previously Mgic Investment Corp (NYSE:MTG) reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The company posted an earnings surprise of 8.6%.
Mgic Investment Corp (NYSE:MTG)’s revenue estimates for the current quarter are $271.04 Million according to 10 number of analysts, for the current quarter the company has high revenue estimates of $277.9 Million in contradiction of low revenue estimates of $266.95 Million. For the current year the company’s revenue estimates are $1.09 Billion compared to low analyst estimates of $1.07 Billion and high estimates of $1.12 Billion according to 10 number of analysts.
Currently Mgic Investment Corp (NYSE:MTG)’s shares owned by insiders are 1.2%, whereas shares owned by institutional owners are 96.2%. However the six-month change in the insider ownership was recorded 0%, as well as three-month change in the institutional ownership was recorded -0.83%.
Mgic Investment Corp (NYSE:MTG)’s trailing twelve month revenues are $1.07 Billion, whereas its price to sales ratio for the same period is 3.91. Its book value per share for the most recent quarter is $8.71 while its price to book ratio for the same period is 1.3, as for as the company’s cash per share for the most recent quarter is $0.48, however its price to cash per share ratio for the same period is 23.57. The stock has 5 year expected PEG ratio of 1.32 whereas its trailing twelve month P/E ratio is 7.96.