Q3 2024 EPS Estimates for MBIA Inc. Reduced by Roth Capital (NYSE:MBI)

MBIA Inc. (NYSE:MBI) – Analysts at Roth Capital cut their Q3 2024 earnings estimates for MBIA in a note issued to investors on Wednesday, August 7th. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings of ($0.16) per share for the quarter, down from their previous forecast of ($0.08). The consensus estimate for MBIA’s current full-year earnings is ($0.75) per share. Roth Capital also issued estimates for MBIA’s Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($3.75) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.16) EPS and FY2025 earnings at ($0.75) EPS.

MBI has been the topic of several other research reports. Roth Mkm dropped their target price on MBIA from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods dropped their price objective on MBIA from $7.50 to $6.50 and set a “market perform” rating on the stock in a report on Friday, May 31st.

MBIA Trading Down 3.5 %

Shares of MBI opened at $3.82 on Friday. The firm has a market capitalization of $195.88 million, a price-to-earnings ratio of -0.38 and a beta of 1.45. The firm’s fifty day simple moving average is $5.03 and its 200-day simple moving average is $5.90. MBIA has a twelve month low of $3.65 and a twelve month high of $14.37.

MBIA (NYSE:MBI) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($2.75). The business had revenue of ($37.00) million during the quarter, compared to the consensus estimate of $29.00 million. During the same quarter in the prior year, the company earned ($0.45) earnings per share.

Hedge Funds Weigh In On MBIA

Institutional investors have recently modified their holdings of the business. Kahn Brothers Group Inc. increased its holdings in shares of MBIA by 7.2% in the first quarter. Kahn Brothers Group Inc. now owns 5,176,613 shares of the insurance provider’s stock valued at $34,993,000 after purchasing an additional 347,007 shares during the period. TCW Group Inc. purchased a new position in MBIA in the 2nd quarter valued at $1,435,000. Tidal Investments LLC acquired a new position in MBIA in the 1st quarter valued at $1,105,000. Whitebox Advisors LLC raised its position in MBIA by 54.5% during the 1st quarter. Whitebox Advisors LLC now owns 425,176 shares of the insurance provider’s stock worth $2,874,000 after buying an additional 150,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of MBIA by 427.9% in the 2nd quarter. Renaissance Technologies LLC now owns 119,174 shares of the insurance provider’s stock worth $654,000 after acquiring an additional 96,600 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MBIA

In other news, Director Theodore Shasta sold 21,405 shares of MBIA stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $5.52, for a total transaction of $118,155.60. Following the sale, the director now owns 82,625 shares in the company, valued at $456,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.58% of the company’s stock.

MBIA Company Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.