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Equities researchers at Morgan Stanley decreased their target price on shares of Genworth Financial (NYSE:GNW) from $16.00 to $3.00 in a research report issued on Thursday. Morgan Stanley’s target price would suggest a potential downside of 77.05% from the stock’s previous close.

Shares of Genworth Financial (NYSE:GNW) traded down 0.08% during mid-day trading on Thursday, hitting $13.06. The stock had a trading volume of 1,613,693 shares. Genworth Financial has a 1-year low of $11.55 and a 1-year high of $18.74. The stock has a 50-day moving average of $16.71 and a 200-day moving average of $16.74. The company has a market cap of $6.486 billion and a P/E ratio of 9.65.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.35 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.35. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Genworth Financial will post $1.36 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Macquarie downgraded shares of Genworth Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $17.00 price target on the stock, down previously from $20.00. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genworth Financial in a research note on Tuesday, July 1st. They now have a $18.00 price target on the stock, up previously from $16.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Genworth Financial in a research note on Thursday, June 26th. They now have a $18.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Genworth Financial currently has a consensus rating of “Buy” and a consensus target price of $15.13.

Genworth Financial, Inc (NYSE:GNW) is a financial security company.

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