Genworth MI Canada Inc (MIC) Forecasted to Earn Q3 2017 Earnings of $1.12 Per Share

Genworth MI Canada Inc (TSE:MIC) – Stock analysts at National Bank Financial upped their Q3 2017 earnings per share (EPS) estimates for shares of Genworth MI Canada in a report released on Monday. National Bank Financial analyst J. Gloyn now anticipates that the company will post earnings of $1.12 per share for the quarter, up from their previous estimate of $1.02. National Bank Financial currently has a “Sector Perform” rating and a $43.00 target price on the stock. National Bank Financial also issued estimates for Genworth MI Canada’s Q4 2017 earnings at $1.13 EPS, FY2017 earnings at $4.77 EPS, FY2018 earnings at $4.57 EPS and FY2019 earnings at $5.05 EPS.

Several other research analysts have also recently commented on MIC. Royal Bank Of Canada boosted their target price on Genworth MI Canada from C$38.00 to C$40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reissued an “outperform” rating and set a C$43.00 target price on shares of Genworth MI Canada in a research note on Thursday, August 3rd. Scotiabank boosted their target price on Genworth MI Canada from C$37.00 to C$39.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 3rd. CIBC boosted their target price on Genworth MI Canada from C$43.00 to C$45.00 in a research note on Thursday, August 3rd. Finally, TD Securities boosted their target price on Genworth MI Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$42.33.

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Shares of Genworth MI Canada (TSE:MIC) opened at 40.24 on Wednesday. The stock has a market capitalization of $3.70 billion and a P/E ratio of 7.49. Genworth MI Canada has a one year low of $27.39 and a one year high of $40.25. The stock has a 50 day moving average of $37.66 and a 200-day moving average of $35.46.

In related news, insider Winsor James Macdonell sold 8,400 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of C$38.00, for a total transaction of C$319,200.00. Also, Director Brian Leo Hurley sold 15,100 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of C$35.98, for a total value of C$543,298.00. Insiders have sold a total of 122,775 shares of company stock valued at $4,554,196 over the last three months.

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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