Cormark Weighs in on Genworth MI Canada Inc’s Q3 2018 Earnings (TSE:MIC)
Genworth MI Canada Inc (TSE:MIC) – Cormark dropped their Q3 2018 earnings estimates for Genworth MI Canada in a report released on Thursday. Cormark analyst J. Fenwick now expects that the company will earn $1.07 per share for the quarter, down from their previous estimate of $1.08. Cormark also issued estimates for Genworth MI Canada’s Q4 2018 earnings at $1.05 EPS and FY2018 earnings at $4.33 EPS.
Several other equities research analysts have also issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a C$41.00 price target on shares of Genworth MI Canada in a research report on Thursday, May 4th. TD Securities reissued a “buy” rating and set a C$43.00 price target on shares of Genworth MI Canada in a research report on Thursday, May 4th. CIBC upped their price target on Genworth MI Canada from C$40.00 to C$43.00 in a research report on Thursday, May 4th. National Bank Financial reissued a “sector perform” rating and set a C$36.00 price target on shares of Genworth MI Canada in a research report on Tuesday, May 2nd. Finally, Scotiabank reissued a “sector perform” rating and set a C$37.00 price target on shares of Genworth MI Canada in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Genworth MI Canada has an average rating of “Buy” and an average target price of C$41.83.
Shares of Genworth MI Canada (MIC) traded up 1.05% during trading on Friday, hitting $37.36. 205,681 shares of the stock were exchanged. The stock’s 50 day moving average price is $35.15 and its 200 day moving average price is $35.09. Genworth MI Canada has a one year low of $27.39 and a one year high of $39.00. The stock has a market cap of $3.44 billion and a PE ratio of 6.95.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.71%. The ex-dividend date is Friday, August 11th.
In related news, Director Stuart Kendrick Levings bought 1,464 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of C$34.17 per share, with a total value of C$50,024.88. Also, Director Neil Reginald Parkinson bought 4,800 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was bought at an average cost of C$31.36 per share, for a total transaction of C$150,528.00. Insiders acquired 7,816 shares of company stock worth $250,543 over the last ninety days.
About Genworth MI Canada
Genworth MI Canada Inc, through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, operates as a private-sector residential mortgage insurer. The Company provides mortgage default insurance to Canadian residential mortgage lenders. It underwrites mortgage insurance for residential properties in various provinces and territories of Canada.
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