Ambac Financial Group Inc reports results for the quarter ended in June - Earnings Summary

Octave Specialty

05/08/2024 22:42

* Ambac Financial Group Inc  AMBC.N  reported quarterly
adjusted
earnings of 18 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 7 cents.  The mean expectation of three analysts
for the quarter was for earnings of 15 cents per share. Wall
Street expected results to range from -3 cents to 29 cents per
share.
    * Revenue fell 40.3% to $37.00 million from a year ago;
analysts
expected $73.30 million. 
    * Ambac Financial Group Inc's reported EPS for the quarter
was a
loss of 2 cents​.
    * The company reported a quarterly loss of $700 thousand.
    * Ambac Financial Group Inc shares had fallen by 5.0% this
quarter and lost 26.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 900%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "buy"

Wall Street's median 12-month price target for Ambac Financial
Group Inc is $17.50 
This summary was machine generated from LSEG data August 5 at
09:42 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.15           0.18           Beat
 Mar. 31 2024      0.09           0.82           Beat
 Dec. 31 2023      -0.02          0.32           Beat
 Sep. 30 2023      -0.18          2.00           Beat