Analysts Expect Genworth Financial Inc (GNW) Will Announce Quarterly Sales of $2.16 Billion

Brokerages forecast that Genworth Financial Inc (NYSE:GNW) will report sales of $2.16 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Genworth Financial’s earnings, with the highest sales estimate coming in at $2.19 billion and the lowest estimate coming in at $2.12 billion. Genworth Financial also reported sales of $2.16 billion during the same quarter last year. The company is expected to announce its next earnings results on Tuesday, February 6th.

On average, analysts expect that Genworth Financial will report full year sales of $2.16 billion for the current fiscal year, with estimates ranging from $8.51 billion to $8.58 billion. For the next year, analysts expect that the business will post sales of $8.56 billion per share. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Genworth Financial.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.05). The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Genworth Financial had a return on equity of 1.57% and a net margin of 3.88%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted ($0.81) earnings per share.

Several brokerages have recently issued reports on GNW. BidaskClub cut shares of Genworth Financial from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Wells Fargo & Company restated a “hold” rating on shares of Genworth Financial in a report on Tuesday, August 1st. ValuEngine upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Tuesday, September 5th. Finally, Off Wall Street began coverage on shares of Genworth Financial in a report on Monday, September 11th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.92.

A number of large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its holdings in Genworth Financial by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 418 shares in the last quarter. Amalgamated Bank lifted its position in Genworth Financial by 1.2% during the second quarter. Amalgamated Bank now owns 71,452 shares of the financial services provider’s stock valued at $269,000 after buying an additional 818 shares during the period. Comerica Bank lifted its position in Genworth Financial by 0.6% during the second quarter. Comerica Bank now owns 399,185 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 2,511 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Genworth Financial by 4.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 65,664 shares of the financial services provider’s stock valued at $248,000 after buying an additional 2,593 shares during the period. Finally, Arizona State Retirement System lifted its position in Genworth Financial by 1.4% during the second quarter. Arizona State Retirement System now owns 210,300 shares of the financial services provider’s stock valued at $793,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 68.09% of the company’s stock.

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Genworth Financial (NYSE GNW) traded up $0.22 during mid-day trading on Friday, hitting $3.38. 3,283,316 shares of the company’s stock traded hands, compared to its average volume of 3,191,482. The stock has a market capitalization of $1,687.16, a P/E ratio of 7.19, a PEG ratio of 0.72 and a beta of 2.80. Genworth Financial has a 52-week low of $3.12 and a 52-week high of $4.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.28 and a quick ratio of 0.28.

Genworth Financial Company Profile

Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.

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