Ambac Financial Group (NYSE:AMBC) Announces Earnings Results

Ambac Financial Group (NYSE:AMBC) issued its quarterly earnings results on Monday. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.61, Zacks reports. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. The firm had revenue of $103.00 million during the quarter. During the same quarter in the previous year, the business posted ($0.30) earnings per share.

Ambac Financial Group Stock Performance

Shares of AMBC opened at $18.31 on Thursday. 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 50-day moving average of $15.19 and a 200-day moving average of $15.23. The company has a market cap of $827.98 million, a PE ratio of 122.14 and a beta of 1.30. Ambac Financial Group has a one year low of $11.26 and a one year high of $18.45.

Wall Street Analysts Forecast Growth

AMBC has been the subject of a number of recent analyst reports. Compass Point increased their price target on Ambac Financial Group from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com upgraded Ambac Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday.

About Ambac Financial Group

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.