Zacks Issues 'Sell Now' Advice on MGIC

Zacks.com, Chicago, has issued a "5(Strong Sell)" ranking on the stock of MGIC Investment Corp., Milwaukee, placing it on Zacks' list of Stocks to Sell Now.The report notes that MGIC recently reported earnings per share that were sharply lower than EPS from a year earlier and below the consensus forecast. "The company stated that record new insurance written volume was more than offset by higher incurred losses," Zacks said. "Specifically, the company said that the losses were a result of an increase in delinquent loans and an increase in claims paid which were impacted by the lack of job growth." Several analysts have issued lower earnings forecasts, and the company's earnings estimates for this year and next have also declined, Zacks.com said. Stocks with a 5(Strong Sell) rank should be sold or avoided in the next one to three months, according to Zacks. The company can be found online at http://www.zacks.com.