Profile
Sector:
TechnologyIndustry:
Information Technology ServicesCountry:
IsraelIPO:
30 August 1991Website:
http://www.magicsoftware.comNext earnings report:
21 November 2024Last dividends:
27 June 2024Next dividends:
23 December 2024Price
regular market | 33 min agoAnalysts recommendations
Institutional Ownership
MGIC Latest News
Magic Software (MGIC) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.21 per share a year ago.
OR YEHUDA, Israel, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) (“the Company”), a global provider of IT consulting services and end-to-end integration and application development platforms solutions, announced today its financial results for the third quarter and first nine months period ended September 30, 2024.
MTG's third-quarter earnings reflect higher new insurance written and improved net investment income, partially offset by lower insurance in force.
MGIC Investment shares have gained 34% over the past year, but recently pulled back 10% due to concerns over the US housing market. Q3 earnings report showed $0.77 in adjusted EPS and a 3% revenue increase, driven by higher net investment income and flat policy exposure. MTG benefits from high home prices and low delinquencies, with strong capital returns to shareholders via buybacks and dividends.
Third Quarter 2024 Net Income of $200.0 million or $0.77 per Diluted Share Third Quarter 2024 Adjusted Net Operating Income (Non-GAAP) of $200.7 million or $0.77 per Diluted Share MILWAUKEE , Nov. 4, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today reported operating and financial results for the third quarter of 2024. Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "We are very pleased with our third quarter financial results, generating net income of $200 million and delivering a 15.6% return on equity.
MILWAUKEE , Oct. 24, 2024 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) announced that its Board of Directors declared a quarterly cash dividend of $0.13 per share, payable on November 21, 2024, to shareholders of record as of November 7, 2024. About MGIC Mortgage Guaranty Insurance Corporation ("MGIC") (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance.
Magic Software remains a Buy leading up to Q3, with potential for a 26% price CAGR over three years, supported by undervaluation and dividend yield. Q3 earnings could act as a moderate catalyst. Management is guiding for revenue contraction that I think could be outperformed, with good EPS growth likely, making it a buying opportunity. Geopolitical tensions (especially risks of a large war around Israel) and macroeconomic conditions could disrupt operations and sentiment, posing significant risks to the investment thesis.
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of the operating subsidiaries of MGIC Investment Corporation [NYSE: MTG]. The operating subsidiaries are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, and MGIC Assurance Corporation (collectively referred to as MGIC). All companies are domiciled in Milwaukee, WI. In addition,.
MILWAUKEE , Aug. 21, 2024 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), comments on the updates by the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to the Private Mortgage Insurer Eligibility Requirements (PMIERs) Available Assets Standards. "We are proud of the critical role private mortgage insurance (MI) plays in the housing finance system.
Magic Software (MGIC) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.28 per share a year ago.
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What type of business is Magic Software Enterprises?
Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services. The company's IT Professional Services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, and supplemental outsourcing services. It also offers proprietary application platforms, such as Magic xpa for developing and deploying business applications; AppBuilder for building, deploying, and maintaining business applications; Magic xpi for application integration; Magic xpi cloud native; FactoryEye for virtualization of production data; Magic Data Management and Analytics Platform for data management; and Magic SmartUX for cross-platform mobile business applications. The company also provides vertical software solutions comprising Clicks, a software solution for healthcare providers; Leap, a software solution for business support systems; Hermes Cargo, a packaged software solution for managing air cargo ground handling; HR Pulse, a single-tenant software as a service tool; MBS Solution, a system for managing TV broadcast management; Nativ, a system for management of rehabilitation centers; and Mobisale, a system for sales and distribution field activities for consumer goods manufacturers and wholesalers. In addition, It provides software maintenance, support, training, and consulting services. The company was formerly known as Mashov Software Export (1983) Ltd. and changed its name to Magic Software Enterprises Ltd. in 1991. The company was incorporated in 1983 and is headquartered in Or Yehuda, Israel.
What sector is Magic Software Enterprises in?
Magic Software Enterprises is in the Technology sector
What industry is Magic Software Enterprises in?
Magic Software Enterprises is in the Information Technology Services industry
What country is Magic Software Enterprises from?
Magic Software Enterprises is headquartered in Israel
When did Magic Software Enterprises go public?
Magic Software Enterprises initial public offering (IPO) was on 30 August 1991
What is Magic Software Enterprises website?
https://www.magicsoftware.com
Is Magic Software Enterprises in the S&P 500?
No, Magic Software Enterprises is not included in the S&P 500 index
Is Magic Software Enterprises in the NASDAQ 100?
No, Magic Software Enterprises is not included in the NASDAQ 100 index
Is Magic Software Enterprises in the Dow Jones?
No, Magic Software Enterprises is not included in the Dow Jones index
When was Magic Software Enterprises the previous earnings report?
No data
When does Magic Software Enterprises earnings report?
The next expected earnings date for Magic Software Enterprises is 21 November 2024