FBR Capital Maintains an 'Outperform' on MGIC Investment (MTG); Getting Closer to Breakeven
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Price: $31.16 +1.04%
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains an 'Outperform' on MGIC Investment (NYSE: MTG), PT $13.
FBR analyst says, "Apparently, Street expectations were running high for MTG going into their earnings report, because otherwise, we find it hard to justify the market's reaction to 1Q11 results. Total delinquent loans continue to fall, new delinquent loans are decelerating, the average claim amount is declining, and bottom-line results flirted with breakeven. Aside from what must have been the Street's near-biblical expectations, we would characterize 1Q11 as a very good quarter. Granted, we had forecasted a minor $0.02 profit versus their reported $0.17 loss, but considering a history of much deeper quarterly losses, 1Q11 results showed significant progress toward eventual profitability."
For more ratings news on MGIC Investment click here and for the rating history of MGIC Investment click here.
Shares of MGIC Investment closed at $7.45 yesterday.
FBR analyst says, "Apparently, Street expectations were running high for MTG going into their earnings report, because otherwise, we find it hard to justify the market's reaction to 1Q11 results. Total delinquent loans continue to fall, new delinquent loans are decelerating, the average claim amount is declining, and bottom-line results flirted with breakeven. Aside from what must have been the Street's near-biblical expectations, we would characterize 1Q11 as a very good quarter. Granted, we had forecasted a minor $0.02 profit versus their reported $0.17 loss, but considering a history of much deeper quarterly losses, 1Q11 results showed significant progress toward eventual profitability."
For more ratings news on MGIC Investment click here and for the rating history of MGIC Investment click here.
Shares of MGIC Investment closed at $7.45 yesterday.
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