Assured Guaranty Ltd. (NYSE:AGO) announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.51, Briefing.com reports. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The company had revenue of $623.00 million during the quarter, compared to the consensus estimate of $262.09 million. During the same quarter in the prior year, the firm earned $3.74 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year.
Shares of Assured Guaranty (NYSE:AGO) opened at $37.12 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.19. Assured Guaranty has a fifty-two week low of $33.55 and a fifty-two week high of $45.73. The stock has a market cap of $4,359.89, a PE ratio of 6.58 and a beta of 1.66.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.142 per share. This represents a $0.57 annualized dividend and a yield of 1.53%. The ex-dividend date is Tuesday, November 14th. Assured Guaranty’s payout ratio is 8.21%.
AGO has been the topic of several recent analyst reports. UBS AG reissued a “buy” rating and set a $47.00 target price (down from $49.00) on shares of Assured Guaranty in a research note on Wednesday, October 4th. MKM Partners reaffirmed a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. Finally, BidaskClub downgraded shares of Assured Guaranty from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.00.
Assured Guaranty announced that its board has initiated a share buyback plan on Thursday, November 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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About Assured Guaranty
Assured Guaranty Ltd. is a holding company. The Company, through its subsidiaries, provides credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It applies its credit underwriting judgment, risk management skills and capital markets experience primarily to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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