Zacks: Brokerages Anticipate Genworth Financial Inc (GNW) Will Post Earnings of $0.22 Per Share

Wall Street brokerages predict that Genworth Financial Inc (NYSE:GNW) will post earnings per share (EPS) of $0.22 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Genworth Financial’s earnings. Genworth Financial reported earnings of $0.29 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 24.1%. The firm is scheduled to announce its next earnings report on Tuesday, May 1st.

On average, analysts expect that Genworth Financial will report full year earnings of $0.90 per share for the current year, with EPS estimates ranging from $0.79 to $1.00. For the next financial year, analysts forecast that the company will report earnings of $0.89 per share, with EPS estimates ranging from $0.79 to $0.99. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Genworth Financial.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.45. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.16 billion. Genworth Financial had a return on equity of 4.66% and a net margin of 9.85%. Genworth Financial’s quarterly revenue was down 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.27) EPS.

GNW has been the topic of several recent analyst reports. Zacks Investment Research raised Genworth Financial from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Wednesday, January 10th. BTIG Research reaffirmed a “hold” rating on shares of Genworth Financial in a research note on Thursday. Wells Fargo & Co reiterated a “hold” rating and issued a $3.75 price objective on shares of Genworth Financial in a research report on Friday, November 3rd. Finally, ValuEngine downgraded Genworth Financial from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $3.75.

A number of institutional investors and hedge funds have recently modified their holdings of the business. New Mexico Educational Retirement Board bought a new position in Genworth Financial in the 4th quarter valued at $384,000. California Public Employees Retirement System raised its position in Genworth Financial by 4.0% in the 4th quarter. California Public Employees Retirement System now owns 4,673,750 shares of the financial services provider’s stock valued at $14,535,000 after purchasing an additional 177,722 shares during the last quarter. Cutler Capital Management LLC raised its position in Genworth Financial by 25.0% in the 4th quarter. Cutler Capital Management LLC now owns 200,000 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 40,000 shares during the last quarter. Teacher Retirement System of Texas raised its position in Genworth Financial by 298.6% in the 4th quarter. Teacher Retirement System of Texas now owns 164,362 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 123,128 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Genworth Financial by 84.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 155,118 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 70,824 shares during the last quarter. Hedge funds and other institutional investors own 66.66% of the company’s stock.

Shares of Genworth Financial (NYSE GNW) opened at $2.98 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $1,372.69, a price-to-earnings ratio of 1.84, a P/E/G ratio of 0.61 and a beta of 2.58. Genworth Financial has a one year low of $2.75 and a one year high of $4.23.

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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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