FY2024 Earnings Forecast for AMBC Issued By Roth Capital

Ambac Financial Group, Inc. (NYSE:AMBC) – Roth Capital decreased their FY2024 earnings per share estimates for shares of Ambac Financial Group in a research note issued to investors on Wednesday, November 13th. Roth Capital analyst H. Fong now expects that the company will earn $0.60 per share for the year, down from their prior estimate 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.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $15.00 in a report on Wednesday, September 18th.

Ambac Financial Group Price Performance

Shares of NYSE AMBC opened at $12.34 on Friday. The firm has a fifty day moving average of $11.39 and a 200 day moving average of $12.79. Ambac Financial Group has a one year low of $10.12 and a one year 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 company has a debt-to-equity ratio of 2.10, a quick ratio of 0.62 and a current ratio of 0.58.

Institutional Trading of Ambac Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in Ambac Financial Group by 30.9% during the 3rd quarter. Barclays PLC now owns 376,102 shares of the company’s stock valued at $4,216,000 after acquiring an additional 88,863 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Ambac Financial Group in the 3rd quarter valued at about $172,000. Wexford Capital LP purchased a new position in Ambac Financial Group in the third quarter valued at about $202,000. Western Standard LLC purchased a new position in Ambac Financial Group in the 3rd quarter valued at approximately $3,094,000. Finally, State Street Corp grew its holdings in Ambac Financial Group by 2.6% in the third quarter. State Street Corp now owns 1,653,544 shares of the company’s stock valued at $18,536,000 after purchasing an additional 42,504 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Insider Activity at Ambac Financial Group

In other news, Director Kristi Ann Matus bought 2,700 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the completion of the purchase, the director now owns 2,700 shares of the company’s stock, valued at approximately $30,429. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.00% 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.