MBIA (NYSE:MBI) Announces Earnings Results

MBIA (NYSE:MBI) released its quarterly earnings results on Wednesday. The insurance provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04, FiscalAI reports. The company had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $5.65 million.

MBIA Price Performance

MBI traded down $0.06 during trading on Friday, hitting $4.41. The company’s stock had a trading volume of 65,604 shares, compared to its average volume of 379,262. The firm’s 50 day moving average price is $4.51 and its 200-day moving average price is $5.63. The stock has a market cap of $224.35 million, a PE ratio of -1.37 and a beta of 1.70. MBIA has a twelve month low of $4.19 and a twelve month high of $7.86.

Analysts Set New Price Targets

A number of research firms recently commented on MBI. Weiss Ratings lowered MBIA from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 13th. Keefe, Bruyette & Woods reduced their target price on shares of MBIA from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

About MBIA

MBIA Inc (NYSE: MBI) is a financial services holding company that provides financial guarantee insurance through its operating subsidiaries. Its guarantees are designed to support the payment of scheduled principal and interest on insured obligations, primarily by enhancing the credit quality of bonds and other debt securities.

MBIA’s principal businesses have historically included public finance insurance and structured finance activities. National Public Finance Guarantee Corporation provides insurance for U.S.