FY2017 Earnings Forecast for Genworth MI Canada Inc Issued By National Bank Financial (MIC)

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.

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Shares of Genworth MI Canada (MIC) opened at 37.36 on Monday. The company has a 50 day moving average price of $35.15 and a 200 day moving average price of $35.09. Genworth MI Canada has a 12-month low of $27.39 and a 12-month high of $39.00. The company has a market capitalization of $3.44 billion and a P/E ratio of 6.95.

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.

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

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