Genworth MI Canada Inc (TSE:MIC) – Analysts at National Bank Financial raised their FY2017 EPS estimates for Genworth MI Canada in a research note issued on Wednesday. National Bank Financial analyst J. Gloyn now expects that the company will post earnings per share of $4.64 for the year, up from their prior estimate of $4.32. National Bank Financial has a “Sector Perform” rating and a $40.00 price objective on the stock. National Bank Financial also issued estimates for Genworth MI Canada’s FY2018 earnings at $4.39 EPS.
A number of other brokerages have also recently commented on MIC. TD Securities raised their target price on Genworth MI Canada from C$43.00 to C$44.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. CIBC lifted their price objective on Genworth MI Canada from C$43.00 to C$45.00 in a research note on Thursday, August 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a C$43.00 price objective on shares of Genworth MI Canada in a research note on Thursday, August 3rd. Scotiabank lifted their price objective on Genworth MI Canada from C$37.00 to C$39.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada lifted their price objective on Genworth MI Canada from C$38.00 to C$40.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Genworth MI Canada currently has an average rating of “Buy” and a consensus target price of C$41.83.
In other news, Director Stuart Kendrick Levings bought 1,552 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were bought at an average cost of C$32.21 per share, for a total transaction of C$49,989.92. Also, Director Neil Reginald Parkinson bought 4,800 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of C$31.36 per share, for a total transaction of C$150,528.00. Over the last 90 days, insiders purchased 7,816 shares of company stock worth $250,543.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 30th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.71%.
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.
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