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MGIC (MTG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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MGIC Investment (MTG - Free Report) reported $305.55 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 3.4%. EPS of $0.77 for the same period compares to $0.68 a year ago.
The reported revenue represents a surprise of +0.61% over the Zacks Consensus Estimate of $303.7 million. With the consensus EPS estimate being $0.62, the EPS surprise was +24.19%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MGIC performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
GAAP underwriting expense ratio (insurance operations only)
: 23.1% versus 21.7% estimated by two analysts on average.
GAAP loss ratio (insurance operations only)
: -7.5% versus the two-analyst average estimate of 11.8%.
Revenues- Net investment income
: $61.48 million compared to the $59.60 million average estimate based on two analysts. The reported number represents a change of +17.5% year over year.
Revenues- Net premiums earned
: $243.53 million versus $243.71 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
Revenues- Other revenue
: $0.55 million compared to the $0.39 million average estimate based on two analysts. The reported number represents a change of +6.9% year over year.
Shares of MGIC have returned +13.3% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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MGIC (MTG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
MGIC Investment (MTG - Free Report) reported $305.55 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 3.4%. EPS of $0.77 for the same period compares to $0.68 a year ago.
The reported revenue represents a surprise of +0.61% over the Zacks Consensus Estimate of $303.7 million. With the consensus EPS estimate being $0.62, the EPS surprise was +24.19%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MGIC performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for MGIC here>>>GAAP underwriting expense ratio (insurance operations only)
: 23.1% versus 21.7% estimated by two analysts on average.GAAP loss ratio (insurance operations only)
: -7.5% versus the two-analyst average estimate of 11.8%.Revenues- Net investment income
: $61.48 million compared to the $59.60 million average estimate based on two analysts. The reported number represents a change of +17.5% year over year.Revenues- Net premiums earned
: $243.53 million versus $243.71 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.Revenues- Other revenue
: $0.55 million compared to the $0.39 million average estimate based on two analysts. The reported number represents a change of +6.9% year over year.Shares of MGIC have returned +13.3% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.