MGIC Investment Corp. ( MTG ) is an Insurance company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MTG's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that MGIC Investment could be a solid choice for investors.
Current Quarter Estimates for MTG
In the past 30 days, 1 estimate has gone higher for MGIC Investment while 1has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 13 cents a share 30 days ago, to 14 today, a move of 7.7%.
Current Year Estimates for MTG
Meanwhile, MGIC Investment's current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to no lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 50 cents per share 30 days ago to 60 cents per share today, an increase of 20.0%.
The stock has also started to move higher lately, adding 16.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
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