BTIG analyst Mark Palmer weighed in today with a few insights on Genworth Financial Inc (NYSE:GNW), as the company is scheduled to report its first-quarter earnings results after the market close on Tuesday, April 28. The analyst rates the stock a Buy, with a $15 price target, which represents a potential upside of 89% from where the stock is currently trading.
Palmer wrote, “As investors take the measure of Genworth Financial ahead of the release of the company’s 1Q15 results, the number of moving parts of which they must keep track is imposing. While management’s revelation on February 10 that most of its long term care (LTC) insurance active life book had a positive margin helped to stem the stock’s sharp decline, since that date investors have had to analyze the impact of the Australian mortgage insurance unit’s loss of the country’s second-biggest lender as a client, the potential sale of the second-largest of company’s four main life insurance subsidiaries, and the release of the final version of new capital requirements for its U.S. mortgage insurance business.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Palmer has a total average return of 2.2% and a 58.9% success rate. Palmer has a -8.8% average return when recommending GNW, and is ranked #1491 out of 3579 analysts.