FY2018 EPS Estimates for Genworth MI Canada Inc Lowered by Analyst (MIC)

Genworth MI Canada Inc (TSE:MIC) – Cormark dropped their FY2018 earnings per share (EPS) estimates for shares of Genworth MI Canada in a note issued to investors on Thursday. Cormark analyst J. Fenwick now expects that the company will post earnings per share of $4.47 for the year, down from their prior forecast of $4.64. Cormark also issued estimates for Genworth MI Canada’s FY2019 earnings at $4.42 EPS.

A number of other research analysts have also recently weighed in on MIC. Scotiabank boosted their target price on shares of Genworth MI Canada from C$44.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Thursday. BMO Capital Markets boosted their target price on shares of Genworth MI Canada from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Thursday. National Bank Financial boosted their target price on shares of Genworth MI Canada from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Royal Bank of Canada cut shares of Genworth MI Canada from a “sector perform” rating to an “underperform” rating and boosted their target price for the company from C$40.00 to C$41.00 in a research note on Monday, November 6th. Finally, CIBC cut shares of Genworth MI Canada from an “outperform” rating to a “neutral” rating and upped their price target for the company from C$45.00 to C$46.00 in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Genworth MI Canada currently has a consensus rating of “Hold” and an average price target of C$46.50.

Genworth MI Canada (TSE MIC) opened at C$40.95 on Monday. The firm has a market cap of $3,720.00, a PE ratio of 7.12 and a beta of 1.64. Genworth MI Canada has a 52 week low of C$30.38 and a 52 week high of C$44.49.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.47 per share. This is a boost from Genworth MI Canada’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Thursday, February 15th. Genworth MI Canada’s dividend payout ratio is presently 31.13%.

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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.

Earnings History and Estimates for Genworth MI Canada (TSE:MIC)

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