Back in June, I’d suggested that Canadians should buy Genworth MI Canada (TSX:MIC). The company is the largest private residential mortgage insurer in Canada. Shares of this TSX stock have climbed 26% week over week as of close on October 29.
Genworth is set to release its third-quarter 2020 results on November 2. In Q2 2020, the company saw total premiums written increase 17% from the prior year to $227 million. Canada housing has remained resilient in this historical crisis. Increased activity is good news for Genworth.
This TSX stock last possessed a price-to-earnings (P/E) ratio of 9.4 and a price-to-book (P/B) value of one. That puts Genworth in very attractive value territory. Moreover, it offers a quarterly dividend of $0.54 per share, which represents a 4.9% yield.
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