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

by · The Markets Daily

MBIA (NYSE:MBI – Get Free Report) announced its earnings results on Wednesday. The insurance provider reported ($0.06) earnings per share (EPS) for the quarter, beating 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 Price Performance

Shares of MBI traded up $0.07 during midday trading on Wednesday, hitting $4.50. The stock had a trading volume of 380,742 shares, compared to its average volume of 380,213. MBIA has a 1 year low of $4.19 and a 1 year high of $7.86. The firm has a market cap of $229.44 million, a PE ratio of -1.56 and a beta of 1.70. The stock’s 50 day moving average is $4.53 and its 200 day moving average is $5.65.

Analyst Ratings Changes

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

Read Our Latest Stock Report on MBIA

MBIA Company Profile

(Get Free Report)

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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