Roth Capital Has Bearish Forecast for AMBC FY2024 Earnings

Ambac Financial Group, Inc. (NYSE:AMBC) – Research analysts at Roth Capital reduced their FY2024 EPS estimates for Ambac Financial Group in a research note issued to investors on Wednesday, November 13th. Roth Capital analyst H. Fong now forecasts that the company will earn $0.60 per share for the year, down from their previous estimate of $1.30. Roth Capital currently 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.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th.

Ambac Financial Group Stock Performance

Shares of AMBC stock opened at $12.34 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.62 and a current ratio of 0.58. The stock has a market capitalization of $585.41 million, a price-to-earnings ratio of -26.83 and a beta of 1.22. Ambac Financial Group has a one year low of $10.12 and a one year high of $18.45. The company’s 50-day simple moving average is $11.39 and its 200-day simple moving average is $12.79.

Insiders Place Their Bets

In other news, Director Kristi Ann Matus bought 2,700 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the purchase, the director now owns 2,700 shares of the company’s stock, valued at $30,429. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.00% of the company’s stock.

Institutional Trading of Ambac Financial Group

A number of hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund Corp lifted its stake in Ambac Financial Group by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock worth $618,000 after purchasing an additional 770 shares during the period. PDT Partners LLC lifted its position in shares of Ambac Financial Group by 1.7% during the 3rd quarter. PDT Partners LLC now owns 63,382 shares of the company’s stock worth $711,000 after buying an additional 1,032 shares during the period. Public Sector Pension Investment Board boosted its stake in Ambac Financial Group by 0.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 172,656 shares of the company’s stock valued at $1,935,000 after buying an additional 1,200 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Ambac Financial Group by 4.9% during the first quarter. Illinois Municipal Retirement Fund now owns 27,952 shares of the company’s stock worth $437,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ambac Financial Group by 20.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after purchasing an additional 1,637 shares in the last quarter. 84.49% of the stock is owned by institutional investors.

About Ambac Financial Group

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.