Roth Capital Has Negative Forecast for AMBC FY2024 Earnings

Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) - Equities researchers at Roth Capital dropped their FY2024 EPS estimates for Ambac Financial Group in a note issued to investors on Wednesday, November 13th. Roth Capital analyst H. Fong now expects that the company will post earnings of $0.60 per share for the year, down from their prior forecast of $1.30. Roth Capital has a "Strong-Buy" rating on the stock. The consensus estimate for Ambac Financial Group's current full-year earnings is $1.30 per share. Roth Capital also issued estimates for Ambac Financial Group's Q4 2024 earnings at $0.06 EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($0.02) EPS, FY2025 earnings at ($0.20) EPS and Q3 2026 earnings at $0.02 EPS.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Ambac Financial Group from a "hold" rating to a "sell" rating in a research note on Wednesday, August 14th. Roth Mkm upgraded Ambac Financial Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $13.00 to $15.00 in a report on Wednesday, September 18th.

Ambac Financial Group Stock Performance

AMBC traded up $0.24 on Friday, hitting $12.34. 815,183 shares of the company's stock were exchanged, compared to its average volume of 469,322. Ambac Financial Group has a twelve month low of $10.12 and a twelve month high of $18.45. The firm has a market cap of $585.41 million, a PE ratio of -26.83 and a beta of 1.22. The stock has a fifty day moving average of $11.39 and a two-hundred day moving average of $12.79. The company has a current ratio of 0.58, a quick ratio of 0.62 and a debt-to-equity ratio of 2.10.

Insider Activity

In other Ambac Financial Group news, Director Kristi Ann Matus purchased 2,700 shares of the company's stock in a transaction dated Thursday, September 26th. The stock was purchased at an average price of $11.27 per share, for a total transaction of $30,429.00. Following the transaction, the director now owns 2,700 shares in the company, valued at $30,429. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its stake in Ambac Financial Group by 830.7% in the 2nd quarter. Quarry LP now owns 2,364 shares of the company's stock worth $30,000 after purchasing an additional 2,110 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Ambac Financial Group during the third quarter valued at about $46,000. nVerses Capital LLC increased its position in Ambac Financial Group by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company's stock valued at $64,000 after buying an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ambac Financial Group by 20.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company's stock worth $126,000 after buying an additional 1,637 shares during the last quarter. Finally, Creative Planning purchased a new stake in Ambac Financial Group in the third quarter valued at approximately $156,000. Institutional investors own 84.49% of the company's stock.

Ambac Financial Group Company Profile

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.