Q3 2017 EPS Estimates for Genworth MI Canada Inc (TSE:MIC) Lifted by Analyst
Genworth MI Canada Inc (TSE:MIC) – Analysts at Cormark raised their Q3 2017 EPS estimates for Genworth MI Canada in a note issued to investors on Thursday. Cormark analyst J. Fenwick now anticipates that the company will post earnings of $1.23 per share for the quarter, up from their previous estimate of $1.09. Cormark also issued estimates for Genworth MI Canada’s Q4 2017 earnings at $1.18 EPS.
A number of other equities analysts also recently commented on the company. BMO Capital Markets restated an “outperform” rating and issued a C$41.00 price objective on shares of Genworth MI Canada in a report on Thursday, May 4th. TD Securities restated a “buy” rating and issued a C$43.00 price objective on shares of Genworth MI Canada in a report on Thursday, May 4th. CIBC increased their price objective on Genworth MI Canada from C$40.00 to C$43.00 in a report on Thursday, May 4th. National Bank Financial restated a “sector perform” rating and issued a C$36.00 price objective on shares of Genworth MI Canada in a report on Tuesday, May 2nd. Finally, Scotiabank restated a “sector perform” rating and issued a C$37.00 price objective on shares of Genworth MI Canada in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of C$41.83.
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Shares of Genworth MI Canada (TSE:MIC) opened at 37.36 on Monday. Genworth MI Canada has a 1-year low of $27.39 and a 1-year high of $39.00. The firm’s 50-day moving average is $35.15 and its 200 day moving average is $35.09. The stock has a market capitalization of $3.44 billion and a P/E ratio of 6.95.
In related news, Director Neil Reginald Parkinson purchased 4,800 shares of the stock in a transaction on Friday, June 2nd. The shares were bought at an average price of C$31.36 per share, for a total transaction of C$150,528.00. Also, Director Stuart Kendrick Levings purchased 1,552 shares of the stock in a transaction on Thursday, May 18th. The shares were bought at an average price of C$32.21 per share, for a total transaction of C$49,989.92. Insiders purchased 7,816 shares of company stock worth $250,543 in the last 90 days.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 30th will be issued a $0.44 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.76 dividend on an annualized basis and a yield of 4.71%.
Genworth MI Canada Company Profile
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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