MBIA (NYSE:MBI – Get Free Report) issued its earnings results on Wednesday. The insurance provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04, FiscalAI reports. The company had revenue of $26.00 million for the quarter, compared to the consensus estimate of $5.65 million.
MBIA Stock Performance
Shares of MBI traded up $0.07 during mid-day trading on Wednesday, hitting $4.50. 380,742 shares of the stock were exchanged, compared to its average volume of 380,213. The company has a market cap of $229.44 million, a PE ratio of -1.56 and a beta of 1.70. MBIA has a 52-week low of $4.19 and a 52-week high of $7.86. The firm has a 50-day moving average of $4.53 and a two-hundred day moving average of $5.65.
Wall Street Analyst Weigh In
A number of analysts have issued reports on MBI shares. Keefe, Bruyette & Woods reduced their price target on shares of MBIA from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Weiss Ratings downgraded shares of MBIA from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 13th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.
Read Our Latest Analysis on MBIA
About MBIA
MBIA Inc (NYSE: MBI) is a financial services holding company that provides financial guarantee insurance through its operating subsidiaries. Its guarantees are designed to support the payment of scheduled principal and interest on insured obligations, primarily by enhancing the credit quality of bonds and other debt securities.
MBIA’s principal businesses have historically included public finance insurance and structured finance activities. National Public Finance Guarantee Corporation provides insurance for U.S.
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