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

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

Voya Financial Stock Performance

Shares of NYSE:VOYA traded down $4.02 on Tuesday, hitting $74.98. 2,032,269 shares of the company were exchanged, compared to its average volume of 818,203. The company's 50 day moving average price is $77.30 and its two-hundred day moving average price is $73.42. Voya Financial has a one year low of $63.11 and a one year high of $83.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.56 and a beta of 1.03.

Voya Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, November 26th. Voya Financial's dividend payout ratio is 23.72%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Voya Financial from $87.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Royal Bank of Canada upped their price objective on shares of Voya Financial from $83.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, October 11th. Raymond James cut Voya Financial from a "strong-buy" rating to a "market perform" rating in a report on Friday, September 13th. Evercore ISI increased their price target on Voya Financial from $79.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, September 11th. Finally, Citigroup increased their price objective on Voya Financial from $86.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $85.27.

Voya Financial Company Profile

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.