MGIC Investment (MTG) Initiated New Coverage at Compass Point

MGIC Investment (MTG) has been initiated today with new coverage  from the research analysts at Compass Point.  Compass Point begins this new coverage of MTG with an initial price target set at $12 dollars and rates performance of MTG as “buy.”

MGIC Investment is slated to release their next earnings report on July 20, 2011 and is estimated to announce EPS of 2 cents.  Their last earnings report was released on April 20, 2011 and announced negative EPS of -0.17 with revenue totaling $353.1 million which was down -4.8 %  year to year.  MTG is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

MGIC Investment is a holding company and through wholly owned subsidiaries is a provider of private mortgage insurance in the United States.  The company has market capitalization of $1,591,000,000 and 201,143,000 shares outstanding.  MTG has a 52-week high of $11.79 with the low being $6.48.

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