BTIG Slices PT on Genworth (GNW) to $5; Sees Challenges Priced into Stock
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Compass Point Cuts Price Target on Genworth Financial (GNW) Following Valuation Shift on MI Companies
February 8, 2016 6:45 AM ESTCompass Point maintained a Buy rating on Genworth Financial (NYSE: GNW), and cut the price target to $5.50 (from $7.50), following the recent shift to lower valuation on MI companies. GNW intends to separate its MI and life operations, which should be viewed positively by the market place. However, the lack of substance on how the company will proceed and the market's meek anticipation of success continues to keep pressure on GNW shares.
Analyst Ken Billingsley commented, "We lower our price target to $5.50 from $7.50, primarily on the... More
Genworth Financial (GNW) Posts Q4 Loss of 17c/Share; Will Initiate U.S. Life Restructuring Plan
February 4, 2016 4:48 PM ESTGenworth Financial (NYSE: GNW) reported Q4 EPS of ($0.17), which may not compare with the analyst estimate of $0.21. Revenue for the quarter came in at $0 versus the consensus estimate of $2.17 billion.
Strategic Update
In 2016, the company plans to initiate a series of internal restructuring actions aimed at separating and isolating its LTC business, subject to regulatory and other potential third-party approvals. These actions are focused on addressing LTC legacy block issues that continue to pressure ratings across the organization.
Also, the company has decided to suspend all sales of traditional life... More
