Ambac Financial Group (NASDAQ:AMBC) posted its quarterly earnings data on Thursday. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.45, Briefing.com reports. Ambac Financial Group had a positive return on equity of 0.72% and a negative net margin of 78.82%. The business had revenue of $216.16 million during the quarter, compared to analyst estimates of $138.68 million. During the same period last year, the company earned ($0.48) EPS. The company’s revenue for the quarter was up 61.3% on a year-over-year basis.
Shares of NASDAQ AMBC traded down $0.06 during midday trading on Friday, hitting $20.69. The company’s stock had a trading volume of 351,300 shares, compared to its average volume of 260,468. Ambac Financial Group has a 12-month low of $14.44 and a 12-month high of $21.95. The business’s 50 day moving average is $19.85 and its two-hundred day moving average is $18.07. The firm has a market cap of $932.43 million, a P/E ratio of 78.73 and a beta of 1.06. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 5.53.
AMBC has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $26.00 price target on shares of Ambac Financial Group in a report on Sunday, September 22nd. BidaskClub downgraded Ambac Financial Group from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, MKM Partners set a $20.00 price target on Ambac Financial Group and gave the stock a “hold” rating in a report on Wednesday, September 18th.
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.
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