Mgic Investment Corp (NYSE:MTG) shares traded -0.4% down during most recent session to reach at the closing price of $12.48. The stock exchanged hands 2.51 Million shares versus average trading capacity of 2.72 Million shares, yielding a market cap of $4.59 Billion. Wall Street analysts covering the stock are projecting that the stock will reach $15.88 within the next 52-weeks. The mean target projections are based on 12 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 $13.
Bank of America “Maintained” Mgic Investment Corp (NYSE:MTG) in a research note issued to investors on 8/13/18 to Underperform with price target of $23.
Additionally on 8/07/18 B. Riley FBR “Maintained” Mgic Investment Corp (NYSE:MTG) to Buy setting price target at $16 and on 4/19/18 Wells Fargo “Downgrades” the stock to Market Perform. Furthermore on 4/11/18 Barclays “Maintained” the stock to Overweight at $16.
On the other hand the company has Relative Strength Index (RSI 14) of 51.57 along with Average True Range (ATR 14) of 0.37, Consequently Mgic Investment Corp (NYSE:MTG)’s weekly and monthly volatility is 2.74%, 3.14% respectively. The company’s beta value is at 1.79.
In terms of Buy, Sell or Hold recommendations, Mgic Investment Corp (NYSE:MTG) has analysts’ mean recommendation of 2.1. 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 $0.35 and can go high up to $0.43. The consensus mean EPS for the current quarter is at $0.39 derived from a total of 13 estimates from the analysts who have weighed in on projected earnings. However the company reported $0.43 earnings per share for the same quarter during last year.
Previously Mgic Investment Corp (NYSE:MTG) reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.13. The company posted an earnings surprise of 36.1%.
Mgic Investment Corp (NYSE:MTG)’s revenue estimates for the current quarter are $286.2 Million according to 8 number of analysts, for the current quarter the company has high revenue estimates of $291.3 Million in contradiction of low revenue estimates of $280.1 Million. For the current year the company’s revenue estimates are $1.12 Billion compared to low analyst estimates of $1.12 Billion and high estimates of $1.13 Billion according to 8 number of analysts.
Currently Mgic Investment Corp (NYSE:MTG)’s shares owned by insiders are 0.1%, whereas shares owned by institutional owners are 95.8%. However the six-month change in the insider ownership was recorded 1.94%, as well as three-month change in the institutional ownership was recorded 1.58%.
Mgic Investment Corp (NYSE:MTG)’s trailing twelve month revenues are $1.11 Billion, whereas its price to sales ratio for the same period is 4.14. Its book value per share for the most recent quarter is $8.99 while its price to book ratio for the same period is 1.39, as for as the company’s cash per share for the most recent quarter is $0.52, however its price to cash per share ratio for the same period is 23.94. The stock has 5 year expected PEG ratio of 1.09 whereas its trailing twelve month P/E ratio is 7.14.