MBIA (NYSE:MBI) Announces Earnings Results

MBIA (NYSE:MBI) posted its quarterly earnings data on Tuesday. The insurance provider reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.76), Bloomberg Earnings reports. During the same quarter in the prior year, the firm earned ($0.58) EPS.

Shares of MBI opened at $9.35 on Wednesday. The firm has a market cap of $845.89 million, a P/E ratio of 13.03 and a beta of 1.30. MBIA has a fifty-two week low of $7.95 and a fifty-two week high of $11.62. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 2.76. The firm has a 50-day simple moving average of $9.37.

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of MBIA by 0.7% in the 4th quarter. Northern Trust Corp now owns 1,191,501 shares of the insurance provider’s stock worth $10,629,000 after acquiring an additional 7,771 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of MBIA by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 962,562 shares of the insurance provider’s stock worth $8,586,000 after acquiring an additional 52,200 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of MBIA in the 4th quarter worth approximately $120,000. Bank of America Corp DE lifted its holdings in shares of MBIA by 6.4% in the 4th quarter. Bank of America Corp DE now owns 305,337 shares of the insurance provider’s stock worth $2,723,000 after acquiring an additional 18,411 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of MBIA by 348.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 27,255 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 21,173 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

MBI has been the topic of a number of research reports. BTIG Research initiated coverage on MBIA in a report on Friday, August 2nd. They issued a “buy” rating and a $14.00 target price on the stock. TheStreet downgraded MBIA from a “c-” rating to a “d+” rating in a report on Wednesday, July 31st.

MBIA Company Profile

MBIA Inc provides financial guarantee insurance services to public finance markets. It operates through 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.

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Earnings History for MBIA (NYSE:MBI)

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