Genworth Financial Inc (GNW) Earns Buy Rating from Analysts at Off Wall Street
Off Wall Street assumed coverage on shares of Genworth Financial Inc (NYSE:GNW) in a research report sent to investors on Monday, The Fly reports. The brokerage issued a buy rating on the financial services provider’s stock.
Several other research firms also recently issued reports on GNW. Zacks Investment Research downgraded Genworth Financial from a buy rating to a hold rating in a research note on Tuesday, July 4th. Wells Fargo & Company restated a hold rating on shares of Genworth Financial in a research note on Tuesday, August 1st. BidaskClub upgraded Genworth Financial from a sell rating to a hold rating in a research note on Saturday, July 1st. Finally, ValuEngine upgraded Genworth Financial from a sell rating to a hold rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $4.27.
Genworth Financial (NYSE:GNW) opened at 3.98 on Monday. The company has a 50-day moving average price of $3.50 and a 200 day moving average price of $3.73. Genworth Financial has a 12 month low of $3.23 and a 12 month high of $5.27. The company’s market capitalization is $1.99 billion.
Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.14 billion. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. On average, equities research analysts forecast that Genworth Financial will post $1.03 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Relative Value Partners Group LLC lifted its position in shares of Genworth Financial by 55.7% during the 1st quarter. Relative Value Partners Group LLC now owns 25,150 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 9,000 shares during the period. Tiedemann Wealth Management LLC lifted its position in shares of Genworth Financial by 72.0% during the 1st quarter. Tiedemann Wealth Management LLC now owns 26,041 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 10,901 shares during the period. NEXT Financial Group Inc lifted its position in shares of Genworth Financial by 0.5% during the 2nd quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 151 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Genworth Financial during the 2nd quarter valued at $126,000. Finally, Shelton Capital Management bought a new stake in shares of Genworth Financial during the 2nd quarter valued at $140,000. Hedge funds and other institutional investors own 67.59% of the company’s stock.
About Genworth Financial
Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.
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