Voya Financial (NYSE:VOYA) Announces Earnings Results, Beats Estimates By $0.07 EPS

Voya Financial (NYSE:VOYA) announced its earnings results on Monday. The asset manager reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.07, Briefing.com reports. Voya Financial had a net margin of 10.87% and a return on equity of 16.11%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $2.07 earnings per share. Voya Financial’s quarterly revenue was up 7.3% on a year-over-year basis.

Voya Financial Stock Performance

VOYA stock traded down $2.07 during mid-day trading on Tuesday, hitting $76.93. The company had a trading volume of 52,819 shares, compared to its average volume of 808,953. The firm has a market cap of $7.56 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 0.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. Voya Financial has a 12 month low of $63.11 and a 12 month high of $83.93. The stock’s fifty day moving average price is $77.30 and its two-hundred day moving average price is $73.42.

Voya Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.34%. The ex-dividend date is Tuesday, November 26th. Voya Financial’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Ratings Changes

VOYA has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Voya Financial from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Raymond James cut shares of Voya Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 13th. Citigroup raised their price target on shares of Voya Financial from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Bank of America raised their price target on shares of Voya Financial from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price target on shares of Voya Financial from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

About Voya Financial

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.