MGIC Investment Reports $186.7 Million Loss (MTG)

MGIC Investment Corporation MTG on Wednesday morning released financial results. MGIC Investment Corporation reported that its 4th quarter net loss narrowed to $186.7 million, or 93 cents per share, from a net loss of $280.1 million, or $2.25 per share, a year earlier. MGIC Investment Corporation reported revenue of $361.08 million, down from $405.52 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of 61 cents per share, on revenue of $368.67 million. MGIC Investment Corporation (MTG) ended the previous trading session at $11.65 per share. Analysts covering the company's stock have a consensus price target of $12.51 per share. MGIC, the principal subsidiary of MGIC Investment Corporation, is the nation's leading provider of private mortgage insurance coverage with $197.9 billion primary insurance in force covering 1.3 million mortgages as of September 30, 2010. Read more from Benzinga's Company news.