) is expected to report Q4
earnings Wednesday with a conference call scheduled for 10:00 a.m. ET.
looking for EPS of ($6.77) on revenue of $416.12M. The consensus range
is ($9.00) to (39c) for EPS, and revenue of $407M to $427M, according
to First Call. On February 7, in order to lower its losses, MGIC said
it would offer fewer insurance policies to subprime home purchasers in
California, Florida, Arizona and Nevada. On January 22, MGIC forecast
that it would report $1.3B in incurred losses for Q4.
announced that 107,120 of its insured loans had been delinquent at the
end of 2007, an increase of about 16,000 loans since the end of Q3.
responded to the news by downgrading MGIC to Neutral from Buy.
The firm wrote that the company's announcement, combined with the
uncertainty facing the housing and subprime markets, led them to
recommend a Neutral stance on MGIC.