Ambac Financial Group (NYSE:AMBC) Announces Quarterly Earnings Results, Beats Expectations By $0.61 EPS

Ambac Financial Group (NYSE:AMBC) issued its quarterly earnings data on Monday. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.61, Zacks reports. The firm had revenue of $103.00 million for the quarter. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. During the same quarter last year, the firm posted ($0.30) earnings per share.

Ambac Financial Group Stock Down 0.8 %

Shares of Ambac Financial Group stock traded down $0.15 on Thursday, reaching $18.17. 32,151 shares of the company were exchanged, compared to its average volume of 384,241. Ambac Financial Group has a 1-year low of $11.26 and a 1-year high of $18.45. The company has a market cap of $821.65 million, a P/E ratio of 122.14 and a beta of 1.30. The company has a debt-to-equity ratio of 2.46, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50 day moving average price is $15.19 and its 200-day moving average price is $15.23.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMBC shares. Compass Point lifted their target price on Ambac Financial Group from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday.

About Ambac Financial Group

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks.