Compared to Estimates, MGIC (MTG) Q4 Earnings: A Look at Key Metrics
MGIC Investment (MTG) reported $284.72 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 2.1%. EPS of $0.67 for the same period compares to $0.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $302.96 million, representing a surprise of -6.02%. The company delivered an EPS surprise of +17.54%, with the consensus EPS estimate being $0.57.
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): 24.6% compared to the 22.7% average estimate based on two analysts.
GAAP loss ratio (insurance operations only): -4.2% compared to the 11.9% average estimate based on two analysts.
Revenues- Net investment income: $57.80 million versus the two-analyst average estimate of $57.04 million. The reported number represents a year-over-year change of +24.7%.
Revenues- Net premiums earned: $226.45 million compared to the $245.55 million average estimate based on two analysts. The reported number represents a change of -7.2% year over year.
Revenues- Other revenue: $0.47 million compared to the $0.37 million average estimate based on two analysts. The reported number represents a change of -5.7% year over year.
View all Key Company Metrics for MGIC here>>>
Shares of MGIC have returned +4.6% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
MGIC Investment Corporation (MTG) : Free Stock Analysis Report
