MBIA (NYSE:MBI) Announces Earnings Results, Beats Expectations By $0.04 EPS

MBIA (NYSE:MBI) released its quarterly earnings data on Wednesday. The insurance provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04, FiscalAI reports. The business had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $5.65 million.

MBIA Trading Down 1.2%

NYSE MBI traded down $0.06 during mid-day trading on Thursday, reaching $4.46. 233,536 shares of the company’s stock traded hands, compared to its average volume of 379,425. MBIA has a 1-year low of $4.19 and a 1-year high of $7.86. The company has a fifty day simple moving average of $4.52 and a 200-day simple moving average of $5.64. The company has a market cap of $227.42 million, a price-to-earnings ratio of -1.55 and a beta of 1.70.

Analysts Set New Price Targets

Several analysts recently issued reports on MBI shares. Weiss Ratings downgraded MBIA from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 13th. Keefe, Bruyette & Woods decreased their target price on MBIA from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.

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.