Stocks in Focus: KeyCorp (NYSE:KEY), MGIC Investment Corp. (NYSE:MTG)
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Shares of KeyCorp (NYSE:KEY) declined -1.47% to $18.10 on Friday, after a bank-based financial services company, stated second-quarter net income of $412 million.
The bank, based in Cleveland, said it had earnings of 36 cents per share. Earnings, adjusted for non-recurring gains and to account for suspended operations, were 34 cents per share. The results met Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of 34 cents per share.
The bank holding company posted revenue of $1.77 billion in the period. Its adjusted revenue was $1.63 billion, which beat Street forecasts. Seven analysts surveyed by Zacks predictable $1.52 billion.
The stock is currently trading at $18.10 per share, floating in a range of $17.99 to $18.49. The stock is moving on high volume, traded at a volume of 11.37 million shares, as compared to its average daily volume of 9.77 million shares. The market capitalization billion for the company is reported at $19.11 Billion.
MGIC Investment Corp. (MTG) stock price inclined +0.09 points or 0.81% at the market, since a holding company stated second-quarter profit of $118.6 million.
On a per-share basis, the Milwaukee-based company said it had net income of 31 cents. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The mortgage insurance company posted revenue of $263.3 million in the period. Its adjusted revenue was $263.4 million.
MGIC Investment Corp. (NYSE:MTG) opened at $11.92. It reached an intraday trading high of $11.98 and now trading at $11.85. The total volume traded for the day is 2.06 million, as compared to its average daily volume of 3.21 million shares. The current EPS for the company has been recorded at $0.92 and the beta value recorded by the company stands at 2.07 points.