Research Recommendations For MGIC Investment Corporation (MTG): Here is What You Should Know


MGIC Investment Corporation (NYSE:MTG) saw an upside of 0.32% to $13.90 after adding $0.05 on Tuesday. The 5-day average trading volume is 3,258,411 shares of the company’s common stock. It has gained $13.97 in the past week and touched a new high 4 times within the past 5 days. An average of 2,683,048 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,941,581.

MTG’s 1-month performance is 9.31% or $0.99 on its low of $12.32 reached on 01/06/23. The company’s shares have touched a 52-week low of $11.38 and high of $16.41, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, MTG has achieved 6.54% or $0.93 and has reached a new high 7 times. However, the current price is down -15.33% from the 52-week high price.

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Valuation Metrics

MTG stock has a beta of 1.36. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.48 while the price-to-book (PB) in the most recent quarter is 0.92, with the price to cash flow ratio at 7.34.

As well, the company’s long term debt to equity for the quarter ending September 29 was 0.15, while the total debt to equity was 0.15.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income grew 38.69% to $249.63 million, while revenue of $249.27 million was 0.14% off the previous quarter. Analysts expected MTG to announce $0.52 per share in earnings in its latest quarter, but it posted $0.86, representing a 65.40% surprise. Shareholders hold equity totaling $297.03 million.

Let’s look briefly at MGIC Investment Corporation (MTG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 78.28% to suggest the stock is trending Overbought, with historical volatility in this time period at 5.06%.

The stock’s 5-day moving average is $13.71, reflecting a +4.39% or $0.59 change from its current price. MTG is currently trading +8.37% above its 20-day SMA, -2.62% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +5.09% and SMA200 by+5.97%.

Stochastic %K and %D was 95.11% and 92.36% and the average true range (ATR) pointed at 0.29. The RSI (14) points at 69.09%, while the 14-day stochastic is at 97.27% with the period’s ATR at 0.30. The stock’s 9-day MACD Oscillator is pointing at 0.33 and 0.55 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for MGIC Investment Corporation (NYSE: MTG), Barclays downgraded it to an Equal weight rating. They previously had an Overweight rating on the stock. Analysts offering their rating for MTG stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MTG as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.

What is MTG’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $14.00 and a high of $18.00, with their median price target at $16.50. Looking at these predictions, the average price target given by analysts is for MGIC Investment Corporation (MTG) stock is $16.19.


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