Compass Point Downgrades MGIC Investment (MTG) to Neutral

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Go back to Compass Point Downgrades MGIC Investment (MTG) to Neutral

MGIC Investment Corporation Reports First Quarter 2016 Results

April 19, 2016 6:45 AM EDT

MILWAUKEE, April 19, 2016 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today reported net income for the quarter ended March 31, 2016 of $69.2 million, compared with a net income of $133.1 million for the same quarter a year ago. Diluted net income per share was $0.17 for the quarter ending March 31, 2016, compared to diluted net income per share of $0.32 for the same quarter a year ago. As explained below there was activity in both periods that impacted the comparability of results on a year over year basis.

Patrick Sinks, CEO of MTG and Mortgage Guaranty... More