Ambac Financial Group, Inc. (NYSE:AMBC) Forecasted to Post Q2 2024 Earnings of $0.19 Per Share

Ambac Financial Group, Inc. (NYSE:AMBC) – Stock analysts at Roth Capital lifted their Q2 2024 EPS estimates for Ambac Financial Group in a research note issued to investors on Tuesday, May 7th. Roth Capital analyst H. Fong now forecasts that the company will earn $0.19 per share for the quarter, up from their previous forecast of $0.09. The consensus estimate for Ambac Financial Group’s current full-year earnings is $0.45 per share. Roth Capital also issued estimates for Ambac Financial Group’s Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $1.45 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.20 EPS.

Several other research firms have also weighed in on AMBC. Compass Point raised their price objective on shares of Ambac Financial Group from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com upgraded shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday.

Ambac Financial Group Stock Performance

Shares of AMBC opened at $18.32 on Thursday. The firm has a 50-day moving average price of $15.19 and a 200 day moving average price of $15.23. The firm has a market capitalization of $828.43 million, a PE ratio of 122.14 and a beta of 1.30. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.46. Ambac Financial Group has a 52-week low of $11.26 and a 52-week high of $18.45.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings results on Monday, May 6th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.21 by $0.61. The business had revenue of $103.00 million during the quarter. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. During the same quarter in the prior year, the company posted ($0.30) EPS.

Institutional Trading of Ambac Financial Group

Hedge funds have recently bought and sold shares of the company. Gladius Capital Management LP lifted its stake in Ambac Financial Group by 71.3% during the third quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock valued at $30,000 after buying an additional 1,052 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of Ambac Financial Group in the third quarter worth approximately $72,000. Federated Hermes Inc. lifted its position in shares of Ambac Financial Group by 26.9% in the third quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock worth $74,000 after purchasing an additional 1,309 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Ambac Financial Group in the fourth quarter worth approximately $165,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Ambac Financial Group in the third quarter worth approximately $122,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

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.