ValuEngine Downgrades Genworth Financial (NYSE:GNW) to Sell

ValuEngine downgraded shares of Genworth Financial (NYSE:GNW) from a hold rating to a sell rating in a research note published on Saturday, ValuEngine reports.

Separately, BTIG Research restated a hold rating on shares of Genworth Financial in a research report on Tuesday, July 2nd.

Shares of GNW stock opened at $4.45 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.26 and a current ratio of 0.26. Genworth Financial has a 52-week low of $2.89 and a 52-week high of $5.02. The company has a market capitalization of $2.23 billion, a PE ratio of 12.36 and a beta of 1.64. The business’s fifty day moving average is $4.27 and its 200 day moving average is $3.81.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.15. Genworth Financial had a return on equity of 1.21% and a net margin of 1.87%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that Genworth Financial will post 1.12 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNW. Nuveen Asset Management LLC purchased a new stake in Genworth Financial during the second quarter valued at about $10,436,000. Alpine Associates Management Inc. purchased a new stake in Genworth Financial during the first quarter valued at about $6,972,000. CNH Partners LLC raised its position in Genworth Financial by 13.6% during the first quarter. CNH Partners LLC now owns 11,462,117 shares of the financial services provider’s stock valued at $43,900,000 after purchasing an additional 1,371,039 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Genworth Financial during the first quarter valued at about $4,426,000. Finally, Invesco Ltd. raised its position in Genworth Financial by 93.2% during the second quarter. Invesco Ltd. now owns 2,083,786 shares of the financial services provider’s stock valued at $7,731,000 after purchasing an additional 1,005,239 shares in the last quarter. Institutional investors and hedge funds own 65.51% of the company’s stock.

About Genworth Financial

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

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