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

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

MBIA Price Performance

Shares of MBIA stock traded up $0.07 during midday trading on Wednesday, hitting $4.50. The company had a trading volume of 380,742 shares, compared to its average volume of 256,921. The business’s 50 day simple moving average is $4.52 and its two-hundred day simple moving average is $5.64. The stock has a market cap of $229.44 million, a PE ratio of -1.56 and a beta of 1.70. MBIA has a 1-year low of $4.19 and a 1-year high of $7.86.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MBI. Keefe, Bruyette & Woods lowered their price target on MBIA from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings lowered MBIA from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.