MGIC Investment Corporation (MTG) – Bear of the Day
Source: http://www.zacks.com/commentary/9374/MGIC+Investment+Corporation+%28MTG%29+-+Bear+of+the+DayPosted on Wednesday, December 3rd, 2008 | In Stocks to Watch
MGIC Investment Corporation (MTG) – MGIC is the largest private mortgage insurer in the U.S., offering private mortgage insurance across the country, the District of Columbia, and in Puerto Rico through its subsidiary, Mortgage Guaranty Insurance Corporation [MGIC].
MTG’s core 3Q08 results were slightly worse than we anticipated. The results continued to be impacted by increases in both the number of delinquent loans and foreclosures due to a further decline of home prices and slowing of economy.
In addition, higher loss severities, especially in California and Florida, also negatively affected the results. The company has taken several combative actions to bolster its capital. We expect significant overhangs for the industry in general and for MTG in particular, for at least the next several quarters. Our Sell rating is maintained on the shares.
“MTG” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research
Last 5 posts by Zacks Market Commentaries
- CNP & FPL Ink Pipeline Deal - Analyst Blog - November 20th, 2009
- Buffett Borrows for Rail Acquisition - Analyst Blog - November 20th, 2009
- Stone Energy Outdoes Estimates - Analyst Blog - November 20th, 2009
- Smucker's Beats, Raises Guidance - Analyst Blog - November 20th, 2009
- GameStop Meets Expectations - Analyst Blog - November 20th, 2009
 About Zacks Market Commentaries (http://www.zacks.com/)
Zacks Market Commentaries |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.