Boston, MA 03/24/2014 (wallstreetpr) – Genworth Financial Inc. (NYSE:GNW) continues to enjoy a turnaround in the market after hitting lows amidst the economic turmoil of 2009. The harsh economic conditions saw the company’s stock considered as “Dead in water” as a result of its shares hitting lows of 85 cents. Five years down the line, the company’s stock is trading at high margins of $17.60 a growth of 13% compared to margins of the same period last year.
Genworth Financial Inc. (NYSE:GNW)’s cash flow has improved over the past years something that seems to have had an impact on share price. Genworth Financial specializes in providing insurance to three important sectors of Home mortgages, health care and life insurance.
Genworth Financials’ Price target raised to $20
Genworth’s solid performance in the market has prompted analysts at UBSAG to raise their share price target from $18 to $20 with the equity research firm maintaining a “Buy” rating on the company’s stock. Analysts at Zacks on the other hand have a “Neutral” rating on Genworth Financial Inc. (NYSE:GNW) with a share price target of $16.
TheStreet research firm has a buy rating on Genworth Financial, noting strengths in key areas such as solid stock performance as well as growth in revenue over the past year.
Reasonable debt levels is another key area that is attracting many investors into the company’s stock as well as notable return on equity and good growths in net income. The company’s net income has grown by 27.3% in its recent quarter earnings compared to that of the same period last year.
The company has also has also been demonstrating a positive pattern of growth in earnings, a trend that looks set to continue in the current fiscal year.
Genworth Financial Inc. (NYSE:GNW) commands an average rating of “Buy” in the market with a consensus price target of $16.72.
Genworth Financial closed the week at a stable share price of $18 having moved up by 0.67%.
