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Genworth MI Canada Inc. Stock Symbol: MIC-T

Last Price Recorded: $35.0100 on 2017-07-20

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Date Signal Expert Opinion Price
2017-06-28 TOP PICK Jason Mann

There has been a cloud over anybody in the mortgage business. This one is a little different. They are a mortgage reinsurer, but they don’t insure Alt A or subprime mortgages. They also have the ability to push back an underwriter if there was fraud. Trades at 6.4X Price to Free Cash Flow with a double-digit return on equity and 8X PE. Dividend yield of 5%. (Analysts’ price target is $37.50.)


Price:
$35.910
Subject:
NORTH AMERICAN
Bias:
UNKNOWN
Owned:
Yes
2017-05-08 DON'T BUY Ross Healy

It has been pounded down along with everything else.  You are playing that the real estate market is not going to collapse.  See Top Picks.


Price:
$33.820
Subject:
NORTH AMERICAN - LARGE
Bias:
BEARISH
Owned:
Unknown
2017-04-05 COMMENT Brian Madden

This is in a bit of a tug-of-war. CHMC has always been the dominant incumbent mortgage insurer. Given political concerns about elevated risks on housing, the government has been trying to offload some of their balance sheet risks and limiting mortgages, and that has accrued to the benefit of companies like this. It has a reasonably strong credit and bonds are BBB rated. The stock is trading below BV. A respectable yield. This is too fraught with risk for him to get all that enthusiastic at this stage.


Price:
$36.700
Subject:
CANADIAN & FIXED INCOME
Bias:
BULLISH
Owned:
No
2016-11-10 COMMENT Ryan Bushell

They just reported, and increased their dividend significantly again. The share price drop kind of puzzled him. It may have been a bit of an indictment, with the federal government and regulators saying that they were worried about the Canadian mortgage market. People may have sold down their shares on that news. Feels there will be a slowdown in Canadian housing, which will slow down the number of mortgages written, and thus the number of mortgages insured. The share price could go down further, and this is a company he would be looking at. Dividend yield of 5.8%.


Price:
$30.360
Subject:
CANADIAN LARGE (DIVIDENDS)
Bias:
UNKNOWN
Owned:
No
2016-10-31 TOP PICK John Kim

He bought it after the change in mortgage rules.  They are the second largest provider of mortgage insurance.  He thinks there will be no housing bubble crash.  The risk reward for the 6% dividend yield is much more to the upside.  They will be fine if employment in Canada does not go down.


Price:
$28.030
Subject:
NORTH AMERICAN
Bias:
UNKNOWN
Owned:
Yes
2016-10-04 COMMENT Jerome Hass

The largest independent mortgage insurance provider. The stock had a big drop today. Part of the concern of the street is that Ottawa is asking some of the lenders to bear part of the risk, particularly on certain mortgage sizes. He has not been particularly interested in this name.


Price:
$31.170
Subject:
CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias:
UNKNOWN
Owned:
No
2016-05-18 COMMENT Steve Belisle

A value stock, but that has been the case for many years, and has been somewhat of a value trap despite management’s decent execution. This is not a growth business anymore. If you are concerned about Canadian real estate, this is definitely a name to be concerned about. As well, they have exposure to Western Canada, and how that is going to impact their results. 5.1% dividend yield should be safe.


Price:
$32.710
Subject:
NORTH AMERICAN DIVIDENDS
Bias:
CAUTIOUS
Owned:
Unknown
2015-12-15 DON'T BUY Brooke Thackray

A default mortgage insurance broker. The chart on this shows lower highs and forming a descending triangle. It is now breaking below this pattern, which is actually bearish because it has broken support. If you are betting on this, you are betting on the housing market in Canada as being strong. There are a lot of questions around that right now.


Price:
$26.730
Subject:
TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias:
UNKNOWN
Owned:
No
2015-11-24 TOP PICK Allan Meyer

Default mortgage insurance providers.  Likes the dividend yield of 5.66%. Cheap on a PE basis at about 8X. Also, trading below BV. There is a large Short position on this, which could result in a very nice upside as the Shorts are focusing too much on the valuation of the housing market. There are definitely pockets in Toronto and Vancouver, but doesn’t feel this is a problem for this company.


Price:
$29.680
Subject:
CANADIAN & ETF's
Bias:
BULLISH on US MARKET
Owned:
Yes
2015-03-25 DON'T BUY James Hodgins

If the housing market got really bad (dropped 20-30%) here this company would go to zero.  This is unlikely, however.  This is a very binary type of situation.  It is like picking up nickels in front of a bulldozer.


Price:
$30.000
Subject:
MARKET NEUTRAL INVESTING
Bias:
NEUTRAL
Owned:
Unknown
2014-06-20 DON'T BUY Patrick Horan

Would be really cautious on this. Had a very good run. The story has been leveraged on the government’s CMHC program clawing back and allowing them to really prosper, which he thinks it can do. But, at the end of the day, you’re taking consumer credit risks. From the macro numbers he sees, that gives him pause. Also, it is a little on the expensive side.


Price:
$37.750
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
No
2014-06-05 COMMENT Ryan Bushell

This tends to increase dividends in the 3rd quarter, so you should look for one in August. Anything related to the mortgage business is tied to interest rates. Although interest rates have come off currently, he believes their ultimate direction is up. That will put pressure on anybody who is related to that business. He would be little bit cautious. Prefers Canadian banks.


Price:
$39.540
Subject:
CANADIAN LARGE (DIVIDENDS)
Bias:
UNKNOWN
Owned:
No
2014-01-07 HOLD Bruce Campbell (1)

Private mortgage insurance.  Finally broke out and did well.  You have had most of the catch up in valuation.  He would be nervous going forward with the Canadian real estate market continuing.


Price:
$36.580
Subject:
CANADIAN LARGE
Bias:
SELECTIVE
Owned:
No
2013-12-27 PAST TOP PICK James Hodgins

(A Top Pick Dec 28/12. Down 65.71%.) 3 Shorts. He is now layering this trade back on now because the spike in rates in May through August pulled forward demand in the housing market.


Price:
$36.710
Subject:
MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias:
CAUTIOUS
Owned:
Yes
2013-12-03 BUY Irwin Michael, B.Com, MBA

There is a new player in the space right now, but he believes the Canadian dollar will improve as well as the economy.  You will see greater employment down the road and this company will benefit.  They have done an excellent job, dividend increase, share buyback.  People expected the Canadian market to collapse.  4.1% dividend.


Price:
$34.120
Subject:
VALUE
Bias:
SELECTIVE
Owned:
Unknown
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