Q4 2017 Earnings Forecast for Genworth MI Canada Inc Issued By National Bank Financial (TSE:MIC)
Genworth MI Canada Inc (TSE:MIC) – National Bank Financial increased their Q4 2017 earnings per share estimates for shares of Genworth MI Canada in a research report issued on Wednesday. National Bank Financial analyst J. Gloyn now forecasts that the company will post earnings per share of $1.09 for the quarter, up from their previous estimate of $1.06. National Bank Financial currently has a “Sector Perform” rating and a $40.00 target price on the stock.
Other equities analysts also recently issued reports about the stock. CIBC upped their price target on shares of Genworth MI Canada from C$43.00 to C$45.00 in a report on Thursday. TD Securities reiterated a “buy” rating and set a C$43.00 price target on shares of Genworth MI Canada in a report on Thursday, May 4th. BMO Capital Markets reiterated an “outperform” rating and set a C$43.00 price target on shares of Genworth MI Canada in a report on Thursday. Scotiabank upped their price target on shares of Genworth MI Canada from C$37.00 to C$39.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price target on shares of Genworth MI Canada from C$38.00 to C$40.00 and gave the company a “sector perform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$41.83.
Shares of Genworth MI Canada (TSE:MIC) opened at 37.36 on Friday. The stock’s 50 day moving average is $35.15 and its 200-day moving average is $35.09. Genworth MI Canada has a 12-month low of $27.39 and a 12-month high of $39.00. The stock has a market capitalization of $3.44 billion and a price-to-earnings ratio of 6.95.
In related news, Director Stuart Kendrick Levings acquired 1,464 shares of the stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of C$34.17 per share, with a total value of C$50,024.88. Also, Director Neil Reginald Parkinson acquired 4,800 shares of the stock in a transaction on Friday, June 2nd. The stock was bought at an average cost of C$31.36 per share, with a total value of C$150,528.00. Insiders have purchased a total of 7,816 shares of company stock worth $250,543 over the last quarter.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 30th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 11th. This represents a $1.76 annualized dividend and a yield of 4.71%.
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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