UBS AG Upgrades Genworth Financial to Buy (GNW)
Genworth Financial (NYSE:GNW) was upgraded by equities researchers at UBS AG from a “neutral” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $18.00 target price on the stock, up from their previous target price of $13.00. UBS AG’s price target would suggest a potential upside of 14.14% from the company’s current price.
Genworth Financial (NYSE:GNW) traded up 2.53% on Monday, hitting $15.78. The stock had a trading volume of 7,219,915 shares. Genworth Financial has a 52 week low of $7.78 and a 52 week high of $15.78. The stock’s 50-day moving average is $15.18 and its 200-day moving average is $13.36. The company has a market cap of $7.799 billion and a P/E ratio of 14.91.
Genworth Financial (NYSE:GNW) last announced its earnings results on Tuesday, October 29th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.27 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts predict that Genworth Financial will post $1.09 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Genworth Financial in a research note to investors on Friday, December 20th. They now have a $16.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Genworth Financial from $14.50 to $15.50 in a research note to investors on Monday, December 16th. Finally, analysts at Sandler O’Neill raised their price target on shares of Genworth Financial from $15.00 to $18.00 in a research note to investors on Thursday, October 31st. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.78.
Genworth Financial, Inc (NYSE:GNW) is a financial security company.
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