Ambac Financial Group (NYSE:AMBC) Issues Earnings Results, Beats Estimates By $0.61 EPS

Posted by Ethan Ryder on May 8th, 2024

Ambac Financial Group (NYSE:AMBC – Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.21 by $0.61, Zacks reports. The company had revenue of $103.00 million during the quarter. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. During the same quarter in the prior year, the company earned ($0.30) earnings per share.

Ambac Financial Group Trading Up 19.3 %

Shares of AMBC opened at $18.04 on Wednesday. Ambac Financial Group has a 12 month low of $11.26 and a 12 month high of $18.19. The stock’s 50-day moving average is $15.16 and its two-hundred day moving average is $15.21. 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 has a market cap of $815.77 million, a PE ratio of 120.27 and a beta of 1.30.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday.

Read Our Latest Analysis on Ambac Financial Group

About Ambac Financial Group

(Get Free Report)

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.