Genworth Financial Inc (NYSE:GNW) Receives $7.94 Consensus Target Price from Brokerages

Genworth Financial Inc (NYSE:GNW) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.94.

Several research firms recently issued reports on GNW. JPMorgan Chase & Co. upgraded shares of Genworth Financial to a “buy” rating in a report on Sunday, October 18th. Zacks Investment Research lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 13th. Macquarie restated a “hold” rating and issued a $7.00 target price (up previously from $5.00) on shares of Genworth Financial in a report on Thursday, September 17th. Raymond James dropped their target price on shares of Genworth Financial from $9.50 to $9.00 in a report on Monday, November 2nd. Finally, Compass Point restated a “buy” rating and issued a $7.50 target price on shares of Genworth Financial in a report on Thursday, November 19th.

An institutional investor recently raised its position in Genworth Financial stock. Saba Capital Management boosted its position in Genworth Financial Inc (NYSE:GNW) by 17.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 547,258 shares of the company’s stock after buying an additional 80,000 shares during the period. Saba Capital Management owned approximately 0.11% of Genworth Financial worth $2,528,000 at the end of the most recent quarter.

Genworth Financial (NYSE:GNW) remained flat at $3.73 during trading on Monday. The stock had a trading volume of 4,672,427 shares. Genworth Financial has a one year low of $3.46 and a one year high of $9.19. The company’s market cap is $1.86 billion. The company’s 50 day moving average price is $4.31 and its 200-day moving average price is $5.48.

Genworth Financial (NYSE:GNW) last released its earnings results on Thursday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.09. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the firm posted ($1.70) EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that Genworth Financial will post $0.89 earnings per share for the current year.

12 Month Chart for NYSE:GNW

Genworth Financial, Inc. (NYSE:GNW) 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. The Mortgage Insurance Division includes the business segments, such as International Mortgage Insurance and U.S. Mortgage Insurance. The Corporate and Runoff Division includes the Runoff segment and Corporate and Other activities. In September 2013, Genworth Financial, Inc closed the sale of its Wealth Management business, including Genworth Financial Wealth Management and alternative solutions provider, the Altegris companies, to a partnership of Aquiline Capital Partners and Genstar Capital.

 

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