Genworth Financial (NYSE:GNW) Posts Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• Genworth Financial reported quarterly earnings of $0.16 per share, exceeding analyst expectations of $0.05 by $0.11, with total revenue of $1.80 billion.
• Despite strong earnings, Genworth Financial's stock is down 0.9% and has a 52-week trading range between $5.99 and $8.28.
• Analysts have varied views on Genworth Financial, with Keefe, Bruyette & Woods raising their price target to $9.50, while Wall Street Zen downgraded the stock to a "sell" rating.

Genworth Financial (NYSE:GNW - Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.11, Zacks reports. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The business had revenue of $1.80 billion for the quarter.

Genworth Financial Price Performance

Shares of Genworth Financial stock traded up $0.09 on Tuesday, hitting $7.95. The company's stock had a trading volume of 4,231,647 shares, compared to its average volume of 6,304,828. Genworth Financial has a 52-week low of $5.99 and a 52-week high of $8.28. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $7.44 and a 200-day moving average price of $7.09. The company has a market capitalization of $3.29 billion, a P/E ratio of 17.67 and a beta of 1.12.

Analyst Upgrades and Downgrades

GNW has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th.

Institutional Investors Weigh In On Genworth Financial

Several institutional investors and hedge funds have recently made changes to their positions in GNW. Strs Ohio acquired a new stake in shares of Genworth Financial during the 1st quarter worth about $82,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Genworth Financial by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider's stock valued at $8,396,000 after buying an additional 55,071 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Genworth Financial by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider's stock valued at $1,788,000 after buying an additional 7,106 shares during the period. Finally, Royal Bank of Canada raised its holdings in Genworth Financial by 75.8% in the first quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock valued at $837,000 after buying an additional 50,911 shares during the period. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.