Genworth MI Canada Inc (TSE:MIC) – Stock analysts at National Bank Financial cut their FY2018 earnings estimates for Genworth MI Canada in a research note issued to investors on Monday, October 29th. National Bank Financial analyst J. Gloyn now forecasts that the company will post earnings of $5.16 per share for the year, down from their prior forecast of $5.35. National Bank Financial currently has a “C$45.25” rating and a $51.00 target price on the stock. National Bank Financial also issued estimates for Genworth MI Canada’s FY2019 earnings at $5.35 EPS.
Several other brokerages have also recently issued reports on MIC. CIBC boosted their price objective on shares of Genworth MI Canada from C$46.00 to C$48.50 in a research note on Wednesday, August 1st. BMO Capital Markets boosted their price objective on shares of Genworth MI Canada from C$50.00 to C$51.00 in a research note on Thursday, August 2nd. Royal Bank of Canada boosted their price objective on shares of Genworth MI Canada from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, TD Securities raised shares of Genworth MI Canada from a “hold” rating to a “buy” rating and decreased their price target for the stock from C$47.00 to C$43.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of C$46.83.
Genworth MI Canada (TSE:MIC) last announced its quarterly earnings data on Tuesday, July 31st. The company reported C$1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.21 by C$0.10. Genworth MI Canada had a net margin of 70.53% and a return on equity of 13.53%. The company had revenue of C$171.27 million during the quarter, compared to analysts’ expectations of C$172.00 million.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Monday, November 12th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.72%. This is a boost from Genworth MI Canada’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, November 8th.
In related news, Director Cecilia Carbonelli sold 2,529 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of C$43.75, for a total transaction of C$110,643.75.
About Genworth MI Canada
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