National Bank Financial Comments on Genworth MI Canada Inc’s Q1 2019 Earnings (TSE:MIC)

Genworth MI Canada Inc (TSE:MIC) – Equities research analysts at National Bank Financial issued their Q1 2019 earnings per share estimates for shares of Genworth MI Canada in a research note issued on Monday, April 29th, Zacks Investment Research reports. National Bank Financial analyst J. Gloyn anticipates that the company will post earnings of $1.34 per share for the quarter. National Bank Financial has a “Outperform” rating and a $53.00 price target on the stock. National Bank Financial also issued estimates for Genworth MI Canada’s Q2 2019 earnings at $1.32 EPS, Q3 2019 earnings at $1.34 EPS, Q4 2019 earnings at $1.40 EPS, FY2019 earnings at $5.40 EPS and FY2020 earnings at $5.70 EPS.

A number of other analysts also recently issued reports on the company. CIBC downgraded Genworth MI Canada from a “neutral” rating to an “underperform” rating and set a C$45.00 price target for the company. in a report on Thursday, January 17th. Royal Bank of Canada lifted their price target on Genworth MI Canada from C$47.00 to C$48.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. BMO Capital Markets lifted their price target on Genworth MI Canada from C$52.00 to C$54.00 in a report on Thursday, February 7th. Finally, TD Securities lifted their price target on Genworth MI Canada from C$47.00 to C$48.00 in a report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Genworth MI Canada has an average rating of “Hold” and an average target price of C$49.60.

TSE MIC traded up C$0.09 during trading on Wednesday, reaching C$41.45. 304,654 shares of the company’s stock were exchanged, compared to its average volume of 182,563. The company has a market capitalization of $3.59 billion and a price-to-earnings ratio of 8.79. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.26 and a quick ratio of 0.20. Genworth MI Canada has a 1 year low of C$38.18 and a 1 year high of C$46.80.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 29th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Thursday, May 9th. Genworth MI Canada’s payout ratio is currently 41.57%.

In other news, Senior Officer Philip Adrian Virgil Mayers sold 6,400 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of C$41.95, for a total value of C$268,480.00. Following the completion of the sale, the insider now directly owns 20,912 shares of the company’s stock, valued at approximately C$877,258.40.

About Genworth MI Canada

Genworth MI Canada Inc, through its subsidiaries, operates as a private residential mortgage insurer in Canada. It provides mortgage default insurance to residential mortgage homebuyers, lenders, brokers, and realtors. The company was founded in 1995 and is headquartered in Oakville, Canada.

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