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Genworth Financial, Inc. (GNW)

NYSE - NYSE Delayed Price. Currency in USD
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4.1000+0.2200 (+5.67%)
At close: 4:00PM EDT

4.1000 0.00 (0.00%)
Pre-Market: 6:33AM EDT

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Short-term KST

Short-term KST

Previous Close3.8800
Bid3.9200 x 21500
Ask4.2500 x 2200
Day's Range3.9000 - 4.1200
52 Week Range1.8700 - 4.7600
Avg. Volume8,884,266
Market Cap2.078B
Beta (5Y Monthly)1.00
PE Ratio (TTM)4.88
EPS (TTM)0.8400
Earnings DateJul 27, 2021 - Aug 02, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateOct 08, 2008
1y Target Est2.50
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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33% Est. Return
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    IPOs Are Getting Delayed as Volatility Spooks Debutants

    (Bloomberg) -- Companies out on the road meeting investors to pitch an initial public offering have hit a bump.At least two planned listings have been delayed due to market volatility. Hear.com NV, a hearing-aid service provider backed by private equity firm EQT AB, has postponed its IPO, which was slated to price on Thursday, the company said in a statement, confirming an earlier Bloomberg report.Hear.com said “challenging equity market conditions” led to the delay and it will continue to monitor the market for another window. It was planning to raise as much as $324 million, filings show.Genworth Financial Inc. announced Thursday that it’s postponing the IPO of its subsidiary Enact Holdings Inc., citing trading volatility in the mortgage insurance sector. Genworth had planned to raise $542 million, according to earlier filings with the U.S. Securities and Exchange Commission.“Genworth’s board of directors determined that current market pricing for the planned offering does not accurately reflect Enact’s value,” the company said in a statement.Read more: Technology Shares Pare Gains; Crude Oil Declines: Markets WrapBrazillian software company Zenvia Inc., which sought to raise as much as $226 million on Thursday, also has postponed its IPO, Dow Jones reported, citing people familiar with the matter. A representative for Zenvia didn’t immediately respond to a request for comment.Volatility JumpsWhile all major U.S. indexes snapped back Thursday and recouped some earlier losses, the three-day slide that started the week -- prompted by concerns about inflation -- was enough to spook companies hoping to make their market debuts. The Chicago Board Options Exchange’s Volatility Index rose to the mid-20s level this week, the highest since March. Bankers usually advise companies to go public when the VIX is below 20.Amir Schlachet, chief executive officer of Global-E Online Ltd., a e-commerce software provider that pushed ahead with its IPO on Wednesday, said the company had “managed to select a pretty horrible day to go to the public market.”“It’s very hard to time the exact day,” Schlachet said in an interview. “What really matters is how it trades in three months, six months, one year.”Bumble, HonestThe turbulence has also affected other equity issuances, and hit companies that have recently joined the public markets. BRT Apartments Corp. canceled a secondary offering of two million shares, citing volatility. Its stock jumped as much as 15% on the news.Shares in Bumble Inc., Honest Co., Affirm Holdings Inc. and Couping Inc., which all went public this year, have each slipped below their IPO prices in recent days.The pullback could threaten 2021’s booming market for IPOs, which has seen companies raise more than $277 billion globally in the biggest start to a year on record.Oatly, SquarespaceMuch of that activity has come from a rush to launch special purpose acquisition companies, with blank-check listings accounting more more than a third of the market, according to data compiled by Bloomberg. SPAC issuance is already under threat, though, after a crackdown by U.S. regulators on how accounting rules are applied to the shell companies.A bounceback by end of Thursday could benefit next week’s listing hopefuls. Oatmilk maker Oatly Group AB is expected to start raise up to $1.65 billion and begin trading next week while website designer Squarespace Inc. had said in a filing that its direct listing is happening on Wednesday.Read more: SPAC Boom Faces New SEC Threat With Accounting Crackdown(Updated with Hear.com’s statement in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Genworth Falls After Delaying Mortgage IPO on Volatility

    Genworth Falls After Delaying Mortgage IPO on Volatility

    (Bloomberg) -- Genworth Financial Inc. shares declined after the company postponed a planned initial public offering for its Enact Holdings Inc. unit, citing volatility in the mortgage-insurance market.The IPO, which was expected to raise as much as $623 million, would have been this week’s largest U.S. initial offering. Genworth dropped as much as 5.2% in New York before rebounding to $3.86 at 1:08 p.m., a 0.3% increase.The decision to put the sale on hold follows last month’s collapse of a takeover agreement Genworth had reached with China Oceanwide Holdings Group Co. Taking the mortgage-insurance business public was initially floated as part of a plan to help pay near-term debt as progress on the merger dragged on for more than four years.“Genworth does ultimately need the cash,” Jeffrey Flynn, an analyst with Bloomberg Intelligence, said in an email. “So there is some pressure on them to get it done.” But Flynn said the company’s cash position is “workable,” and a delay might ultimately help if an improving housing market boosts second-quarter results at Enact.Genworth’s ability to meet its obligations isn’t dependent on the IPO, the company said Thursday in a statement. The Richmond, Virginia-based firm said it had about $757 million in cash and liquid assets as of March 31.“In light of the recent significant trading volatility in the mortgage-insurance sector, Genworth’s board of directors determined that current market pricing for the planned offering does not accurately reflect Enact’s value,” Chief Executive Officer Tom McInerney said in the statement. “Therefore, we have decided to postpone the IPO and will continue to evaluate our options as market conditions develop.”The delay followed other recent stumbles in the market. An IPO from the Fortegra Group was withdrawn hours before it was expected to start trading on April 29, with parent Tiptree Inc. also citing adverse market conditions. On May 6, James River Group Holdings Ltd. priced a secondary offering at the sector’s steepest discount ever after adjusting its expected value of outstanding insurance claims. The next day, Chinese insurance-tech firm Waterdrop Inc. tumbled almost 20% from its IPO price in its U.S. market debut.(Updates share price in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.