Ambac Financial Group Inc AMBC.N reported quarterly adjusted earnings of 18 cents per share for the quarter ended in June, higher than the same quarter last year, when the company reported EPS of 7 cents. The mean expectation of three analysts for the quarter was for earnings of 15 cents per share. Wall Street expected results to range from -3 cents to 29 cents per share.
Revenue fell 40.3% to $37.00 million from a year ago; analysts expected $73.30 million.
Ambac Financial Group Inc's reported EPS for the quarter was a loss of 2 cents.
The company reported a quarterly loss of $700 thousand.
Ambac Financial Group Inc shares had fallen by 5.0% this quarter and lost 26.1% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had risen by about 900% in the last three months.
In the last 30 days, there have been earnings estimate revisions by analysts covering the company.
RECOMMENDATIONS
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 1 "hold" and "sell" or "strong sell."
The average consensus recommendation for the property & casualty insurance peer group is also "buy"
Wall Street's median 12-month price target for Ambac Financial Group Inc is $17.50
This summary was machine generated from LSEG data August 5 at 09:42 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)
QUARTER ENDING |
ESTIMATE |
ACTUAL |
BEAT, MET, MISSED |
Jun. 30 2024 |
0.15 |
0.18 |
Beat |
Mar. 31 2024 |
0.09 |
0.82 |
Beat |
Dec. 31 2023 |
-0.02 |
0.32 |
Beat |
Sep. 30 2023 |
-0.18 |
2.00 |
Beat |