Earnings Analysis - MGIC Investment

LONDON, October 21, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings analysis on MGIC Investment Corp. (NYSE: MTG). On October 15, 2014, the company announced its financial results for Q3 FY14 (period ended September 30, 2014). Click on http://www.investor-edge.com/FreeReports to read our free earnings review on MGIC Investment. During Q3 FY14, MGIC Investment Corp.'s net income broadened by $59.91 million on a Y-o-Y basis and its diluted EPS increased $0.14 from the preceding year quarter. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, MGIC Investment Corp. reported net revenue of $235.11 million, compared to $254.45 million in the same period last year. The company's net revenue during the reported quarter came marginally above the Bloomberg analysts' forecast of $233.14 million. Further, the company's net premiums written for Q3 FY14 decreased to $222.90 million, from $234.28 million in Q3 FY13, while other revenue increased to $3.09 million from $2.48 million in Q3 FY13. MGIC Investment Corp.'s net income broadened to $72.02 million, or $0.18 per diluted share in Q3 FY14, from $12.11 million, or $0.04 per diluted share in the same quarter last year. Analysts from Bloomberg had expected the company to report net income of $41.07 million, or $0.10 per diluted share in Q3 FY14. The free research on MTG can be downloaded as in PDF format at:

http://www.Investor-Edge.com/MTGFreeReport

Curt S. Culver, CEO and Chairman of the Board of Mortgage Guaranty Insurance Corporation and MGIC Investment Corp., said that the company had another profitable quarter, with a 21% Y-o-Y increase in the amount of new insurance written and a 25% decline in delinquency inventory from the year-ago quarter. MGIC Investment Corp. saw new insurance written at $10.4 billion as compared to $8.6 billion in Q3 FY13, and its primary insurance in force was reported to be $162.4 billion as on September 30, 2014, as compared to $158.7 billion at December 31, 2013 and $159.2 billion at September 30, 2013.

The company's losses incurred in Q3 FY14 narrowed to $115.25 million, from $180.19 million in the corresponding quarter last year, reflecting fewer new delinquency notices received and lower claim rates on new and previously reported delinquencies. Also, net underwriting and other expenses decreased to $36.98 million during Q3 FY14, from $47.97 million a year-ago, reflecting ceding commissions related to reinsurance. Sign up and read the free analyst's notes on MTG at:

http://www.Investor-Edge.com/MTG-21102014

Commenting on the recently proposed GSE mortgage insurance eligibility requirements, Mr. Culver affirmed that he fully expects MGIC Investment Corp. to comply with the requirements, whether they are modified or not, and that the company will remain a vital part of the evolving U.S. housing finance system.

Stock Performance 

On the day of the earnings release, October 15, 2014, MGIC Investment Corp.'s stock ended the session at $7.89, up 2.20%, and has been on an uptrend since then. On the last close, Monday, October 20, 2014, the shares finished at $8.56, 1.54% above its previous day's closing price, after vacillating between $8.41 and $8.63 during the session. A total of 5.39 million shares were traded, close to its three months average volume of 5.04 million shares. Over the previous three trading sessions and last one month, the company's shares have advanced 8.49% and 2.51%, respectively. Also, the stock has gone up 1.42% from the beginning of 2014. Shares in MGIC Investment Corp. are trading above their 50-day and 200-day moving averages of $8.11 and $8.48, respectively. Furthermore, the stock traded at a PE ratio of 20.87 and has a Relative Strength Index (RSI) of 63.52. Visit Investor-Edge and access the latest research on MTG at:

http://www.Investor-Edge.com/MTGEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month MGIC Investment Corp. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on MTG is available at:

http://www.Investor-Edge.com/MTGInsiderTrading

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