Voya Financial (NYSE:VOYA) Posts Earnings Results, Beats Estimates By $0.56 EPS

Voya Financial (NYSE:VOYA) posted its earnings results on Tuesday. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.56, Zacks reports. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share.

Voya Financial Stock Up 8.9 %

Shares of NYSE:VOYA opened at $65.58 on Thursday. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.48 and a beta of 0.95. Voya Financial has a fifty-two week low of $52.43 and a fifty-two week high of $84.30. The firm’s 50-day simple moving average is $63.00 and its 200-day simple moving average is $70.49. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 0.59.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, May 27th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, May 27th. Voya Financial’s dividend payout ratio (DPR) is presently 29.41%.

Analyst Ratings Changes

Several analysts have recently weighed in on VOYA shares. Keefe, Bruyette & Woods reduced their price objective on shares of Voya Financial from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Barclays set a $70.00 price target on shares of Voya Financial in a research report on Wednesday. Wells Fargo & Company cut their target price on Voya Financial from $79.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada decreased their target price on Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Bank of America restated an “underperform” rating and set a $71.00 price target (down previously from $79.00) on shares of Voya Financial in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $81.25.

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.