MGIC Investment (NYSE: MTG ) is expected to report Q2 earnings on Aug. 2. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict MGIC Investment's revenues will shrink -20.0% and EPS will remain in the red.
The average estimate for revenue is $293.7 million. On the bottom line, the average EPS estimate is -$0.52.
Last quarter, MGIC Investment recorded revenue of $379.7 million. GAAP reported sales were 8.8% higher than the prior-year quarter's $359.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, non-GAAP EPS came in at -$0.48. GAAP EPS were -$0.10 for Q1 versus -$0.17 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 1.1%, 340 basis points better than the prior-year quarter. Operating margin was 1.1%, 340 basis points better than the prior-year quarter. Net margin was -5.0%, 440 basis points better than the prior-year quarter.
The full year's average estimate for revenue is $1.23 billion. The average EPS estimate is -$1.92.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 309 members out of 497 rating the stock outperform, and 188 members rating it underperform. Among 144 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 75 give MGIC Investment a green thumbs-up, and 69 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MGIC Investment is hold, with an average price target of $5.00.