Genworth MI Canada (TSE:MIC) Hits New 12-Month High at $52.64

Genworth MI Canada Inc (TSE:MIC) hit a new 52-week high on Friday . The stock traded as high as C$52.64 and last traded at C$52.60, with a volume of 214386 shares traded. The stock had previously closed at C$50.92.

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their target price on Genworth MI Canada from C$54.00 to C$57.00 in a research report on Thursday, August 1st. Royal Bank of Canada raised Genworth MI Canada from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$48.00 to C$51.00 in a research report on Tuesday, July 9th. CIBC raised Genworth MI Canada from an “underperform” rating to a “neutral” rating and increased their target price for the stock from C$46.00 to C$48.00 in a research report on Wednesday, July 31st. Finally, TD Securities increased their target price on Genworth MI Canada from C$52.00 to C$55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of C$52.80.

The company has a debt-to-equity ratio of 11.20, a current ratio of 0.27 and a quick ratio of 0.19. The company has a 50-day simple moving average of C$49.62 and a two-hundred day simple moving average of C$44.03. The stock has a market capitalization of $4.46 billion and a price-to-earnings ratio of 11.29.

Genworth MI Canada (TSE:MIC) last issued its earnings results on Tuesday, July 30th. The company reported C$1.38 earnings per share for the quarter. The company had revenue of C$168.70 million during the quarter. Research analysts anticipate that Genworth MI Canada Inc will post 5.4400001 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Tuesday, August 13th. Genworth MI Canada’s dividend payout ratio (DPR) is 42.80%.

In other news, Senior Officer Philip Adrian Virgil Mayers sold 19,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of C$49.25, for a total transaction of C$935,750.00. Following the transaction, the insider now directly owns 21,229 shares of the company’s stock, valued at C$1,045,528.25. Also, Senior Officer Deborah Lynn Mcpherson sold 3,834 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of C$49.18, for a total value of C$188,556.12. Following the transaction, the insider now directly owns 16,150 shares in the company, valued at C$794,257.

About Genworth MI Canada (TSE:MIC)

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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