MBIA (NYSE:MBI) Announces Earnings Results

MBIA (NYSE:MBI) announced its quarterly earnings data on Tuesday. The insurance provider reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($2.75), RTT News reports. The business had revenue of ($37.00) million during the quarter, compared to analysts’ expectations of $29.00 million. During the same period in the prior year, the firm earned ($0.45) EPS.

MBIA Trading Down 3.5 %

MBI stock traded down $0.14 during trading on Friday, reaching $3.82. The stock had a trading volume of 523,082 shares, compared to its average volume of 516,189. The stock’s 50 day moving average is $5.03 and its two-hundred day moving average is $5.90. The firm has a market cap of $195.88 million, a PE ratio of -0.38 and a beta of 1.45. MBIA has a 52 week low of $3.65 and a 52 week high of $14.37.

Insider Transactions at MBIA

In related news, Director Theodore Shasta sold 21,405 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $5.52, for a total transaction of $118,155.60. Following the sale, the director now owns 82,625 shares of the company’s stock, valued at $456,090. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 12.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Roth Mkm lowered their price target on MBIA from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods decreased their target price on shares of MBIA from $7.50 to $6.50 and set a “market perform” rating for the company in a research note on Friday, May 31st.

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.