National Bank Financial Weighs in on Genworth MI Canada Inc’s FY2017 Earnings (MIC)
Genworth MI Canada Inc (TSE:MIC) – Research analysts at National Bank Financial increased their FY2017 EPS estimates for Genworth MI Canada in a note issued to investors on Wednesday. National Bank Financial analyst J. Gloyn now anticipates that the company will earn $4.64 per share for the year, up from their prior forecast of $4.32. National Bank Financial has a “Sector Perform” rating and a $40.00 price target on the stock. National Bank Financial also issued estimates for Genworth MI Canada’s FY2018 earnings at $4.39 EPS.
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Several other research analysts have also commented on MIC. BMO Capital Markets reissued an “outperform” rating and issued a C$41.00 price objective on shares of Genworth MI Canada in a research note on Thursday, May 4th. TD Securities reissued a “buy” rating and issued a C$43.00 price objective on shares of Genworth MI Canada in a research note on Thursday, May 4th. CIBC raised their price objective on shares of Genworth MI Canada from C$40.00 to C$43.00 in a research note on Thursday, May 4th. Scotiabank reissued a “sector perform” rating and issued a C$37.00 price objective on shares of Genworth MI Canada in a research note on Wednesday, May 3rd. Finally, Royal Bank Of Canada raised their price objective on shares of Genworth MI Canada from C$38.00 to C$40.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of C$41.83.
In other news, Director Stuart Kendrick Levings bought 1,552 shares of Genworth MI Canada stock in a transaction that occurred on Thursday, May 18th. The shares were purchased at an average price of C$32.21 per share, with a total value of C$49,989.92. Also, Director Neil Reginald Parkinson bought 4,800 shares of Genworth MI Canada stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of C$31.36 per share, for a total transaction of C$150,528.00. In the last three months, insiders bought 7,816 shares of company stock valued at $250,543.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, August 11th.
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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