Genworth Financial, Inc. (NYSE:GNW – Get Free Report) shares gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $6.00, but opened at $5.83. Genworth Financial shares last traded at $5.43, with a volume of 1,018,736 shares traded.
The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.13). The business had revenue of $1.83 billion during the quarter. Genworth Financial had a net margin of 5.39% and a return on equity of 4.16%. During the same quarter last year, the company earned $0.20 EPS.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Genworth Financial in a research note on Thursday, October 5th. They set a “hold” rating on the stock.
Institutional Investors Weigh In On Genworth Financial
A number of large investors have recently modified their holdings of GNW. State of Wyoming acquired a new stake in shares of Genworth Financial in the 2nd quarter valued at $29,000. Prelude Capital Management LLC acquired a new stake in shares of Genworth Financial in the 2nd quarter valued at $35,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Genworth Financial in the 1st quarter valued at $36,000. Nomura Holdings Inc. acquired a new stake in shares of Genworth Financial in the 2nd quarter valued at $39,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Genworth Financial in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 78.64% of the company’s stock.
Genworth Financial Stock Performance
The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 6.71 and a beta of 1.02. The stock has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $5.67.
About Genworth Financial
Genworth Financial, Inc provides insurance products in the United States and internationally. It operates in three segments: Enact, U.S. Life Insurance, and Runoff. The Enact segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.
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