Genworth MI Canada (TSE:MIC) had its price target increased by BMO Capital Markets from C$51.00 to C$52.00 in a research report report published on Thursday morning. BMO Capital Markets currently has an outperform rating on the stock.
Several other research analysts have also issued reports on the stock. National Bank Financial raised their target price on shares of Genworth MI Canada from C$50.00 to C$51.00 and gave the company a c$45.25 rating in a research note on Monday, July 23rd. CIBC raised their target price on shares of Genworth MI Canada from C$46.00 to C$48.50 in a research note on Wednesday, August 1st. Royal Bank of Canada raised their target price on shares of Genworth MI Canada from C$43.00 to C$44.00 and gave the company a sector perform rating in a research note on Wednesday. Finally, TD Securities raised shares of Genworth MI Canada from a hold rating to a buy rating and reduced their target price for the company from C$47.00 to C$43.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of C$47.00.
Shares of TSE MIC traded down C$1.46 during mid-day trading on Thursday, hitting C$43.04. The company’s stock had a trading volume of 358,286 shares, compared to its average volume of 182,303. Genworth MI Canada has a one year low of C$38.00 and a one year high of C$46.75.
Genworth MI Canada (TSE:MIC) last issued its earnings results on Tuesday, July 31st. The company reported C$1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.21 by C$0.10. The company had revenue of C$171.27 million for the quarter, compared to analyst estimates of C$172.00 million. Genworth MI Canada had a net margin of 70.53% and a return on equity of 13.53%.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Monday, November 12th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.74%. This is an increase from Genworth MI Canada’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, November 8th.
In related news, Director Cecilia Carbonelli sold 2,529 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of C$43.75, for a total value of C$110,643.75.
About Genworth MI Canada
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