FY2018 Earnings Estimate for Genworth MI Canada Inc (MIC) Issued By Cormark

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

A number of other equities analysts have also recently issued reports on the stock. National Bank Financial raised shares of Genworth MI Canada from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$43.00 to C$46.00 in a research report on Thursday, November 2nd. TD Securities cut shares of Genworth MI Canada from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$45.00 to C$46.00 in a research report on Thursday, December 7th. Royal Bank of Canada increased their price objective on shares of Genworth MI Canada from C$41.00 to C$42.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 7th. Scotiabank increased their price objective on shares of Genworth MI Canada from C$40.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Monday, November 6th. Finally, CIBC cut shares of Genworth MI Canada from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from C$45.00 to C$46.00 in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Genworth MI Canada has a consensus rating of “Hold” and a consensus target price of C$46.50.

Genworth MI Canada (TSE:MIC) traded up C$0.46 during mid-day trading on Monday, hitting C$41.77. 31,332 shares of the stock were exchanged, compared to its average volume of 185,574. The company has a market cap of $3,760.00, a PE ratio of 7.18 and a beta of 1.64. Genworth MI Canada has a one year low of C$30.38 and a one year 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 given a $0.47 dividend. This is a boost from Genworth MI Canada’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.88 annualized dividend and a yield of 4.50%. Genworth MI Canada’s dividend payout ratio (DPR) is presently 31.13%.

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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.

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

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