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.
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.
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