MBIA (NYSE:MBI) Releases Earnings Results, Misses Expectations By $0.17 EPS

MBIA (NYSE:MBI) announced its quarterly earnings results on Thursday. The insurance provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17), Zacks reports. The company had revenue of $29.00 million for the quarter, compared to analyst estimates of $28.70 million.

MBIA Stock Performance

NYSE MBI opened at $6.07 on Friday. The stock has a market cap of $309.75 million, a price-to-earnings ratio of -0.54 and a beta of 1.62. The business has a 50 day simple moving average of $6.57 and a 200 day simple moving average of $5.24. MBIA has a 52-week low of $3.22 and a 52-week high of $7.46.

Analysts Set New Price Targets

Several equities research analysts have commented on MBI shares. StockNews.com downgraded shares of MBIA from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded shares of MBIA from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $6.50 to $9.00 in a research report on Monday, November 18th.

Insider Buying and Selling at MBIA

In related news, Director Theodore Shasta sold 11,261 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $6.13, for a total transaction of $69,029.93. Following the sale, the director now directly owns 71,364 shares in the company, valued at $437,461.32. This trade represents a 13.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.58% of the company’s stock.

MBIA Company Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (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.