Genworth Financial (GNW) Misses Q3 EPS by 9c

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Genworth Financial (GNW) Hires New President to Focus on Life Operations; Compass Point Reiterates Buy

November 2, 2015 8:29 AM EST

Compass Point reiterated a Buy rating and $7.50 price target on Genworth Financial (NYSE: GNW) following the company's 3Q earnings results. GNW reported operating EPS of $0.13, below the consensus estimate of $0.22. Life results will continue to be strained given the company's Yo-Yo approach to being in/out/and back in the business until they can successfully separate the Life and US MI operations. A new president has been hired to focus on the Life operations which should add some stability to product line.

Analyst Ken Billingsley commented, "While GNW performed in line with our... More