TD Securities Increases Genworth MI Canada (TSE:MIC) Price Target to C$55.00

Genworth MI Canada (TSE:MIC) had its price target lifted by TD Securities from C$52.00 to C$55.00 in a report issued on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other brokerages also recently commented on MIC. BMO Capital Markets increased their price target on Genworth MI Canada from C$54.00 to C$57.00 in a research report on Thursday, August 1st. National Bank Financial increased their price objective on Genworth MI Canada from C$51.00 to C$53.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Royal Bank of Canada raised Genworth MI Canada from a sector perform rating to an outperform rating and increased their price objective for the company from C$48.00 to C$51.00 in a report on Tuesday, July 9th. Finally, CIBC raised Genworth MI Canada from an underperform rating to a neutral rating and increased their price objective for the company from C$46.00 to C$48.00 in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Genworth MI Canada presently has an average rating of Buy and an average price target of C$52.80.

Shares of MIC opened at C$49.22 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.19 and a debt-to-equity ratio of 11.20. The company has a market capitalization of $4.46 billion and a price-to-earnings ratio of 10.53. The stock has a 50 day moving average of C$46.19 and a 200 day moving average of C$43.22. Genworth MI Canada has a 12 month low of C$38.18 and a 12 month high of C$52.54.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, August 13th. Genworth MI Canada’s dividend payout ratio (DPR) is 42.80%.

Genworth MI Canada Company Profile

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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Analyst Recommendations for Genworth MI Canada (TSE:MIC)

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