Genworth MI Canada Inc (TSE:MIC) Receives Consensus Recommendation of “Buy” from Analysts
Genworth MI Canada Inc (TSE:MIC) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$41.83.
MIC has been the topic of several recent analyst reports. TD Securities boosted their price target on Genworth MI Canada from C$43.00 to C$44.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. CIBC boosted their price target on Genworth MI Canada from C$43.00 to C$45.00 in a research note on Thursday, August 3rd. BMO Capital Markets reissued an “outperform” rating and issued a C$43.00 price target on shares of Genworth MI Canada in a research note on Thursday, August 3rd. Scotiabank boosted their price target 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, National Bank Financial reissued a “sector perform” rating and issued a C$36.00 price target on shares of Genworth MI Canada in a research note on Tuesday, May 2nd.
In other news, Director Brian Leo Hurley sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of C$37.20, for a total transaction of C$3,348,000.00. Also, Director Neil Reginald Parkinson bought 4,800 shares of the stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of C$31.36 per share, for a total transaction of C$150,528.00.
Shares of Genworth MI Canada (MIC) traded down 0.41% during mid-day trading on Friday, hitting $36.13. 152,866 shares of the company were exchanged. Genworth MI Canada has a 12-month low of $27.39 and a 12-month high of $40.00. The firm has a 50 day moving average of $35.96 and a 200 day moving average of $35.29. The company has a market capitalization of $3.32 billion and a price-to-earnings ratio of 6.72.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.87%. The ex-dividend date is Friday, August 11th.
Genworth MI Canada Company Profile
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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