Mortgage insurer MGIC Investment (NYSE:MTG) will be reporting earnings this Wednesday after the bell. Here’s what to look for.
MGIC Investment met analysts’ revenue expectations last quarter, reporting revenues of $295.4 million, down 2.9% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is MGIC Investment a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting MGIC Investment’s revenue to decline 1.8% year on year, a deceleration from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. MGIC Investment has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at MGIC Investment’s peers in the property & casualty insurance segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Markel Group delivered year-on-year revenue growth of 5.7%, beating analysts’ expectations by 10%, and RLI reported revenues up 5.3%, topping estimates by 0.5%. Markel Group traded up 1.2% following the results while RLI was also up 2.5%.
Read our full analysis of Markel Group’s results here and RLI’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 7.5% on average over the last month. MGIC Investment is up 6.8% during the same time.
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