Roth Capital Has Negative Estimate for AMBC FY2024 Earnings

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

Other analysts have also issued research reports about the company. StockNews.com lowered 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 target for the company from $13.00 to $15.00 in a research report on Wednesday, September 18th.

Ambac Financial Group Stock Down 6.1 %

Shares of NYSE:AMBC opened at $12.10 on Friday. The stock’s 50-day moving average is $11.36 and its 200 day moving average is $12.80. The company has a market cap of $574.04 million, a PE ratio of -26.30 and a beta of 1.22. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.62 and a quick ratio of 0.62. Ambac Financial Group has a 1 year low of $10.12 and a 1 year high of $18.45.

Insider Activity at Ambac Financial Group

In related news, Director Kristi Ann Matus bought 2,700 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average price of $11.27 per share, with a total value of $30,429.00. Following the transaction, the director now owns 2,700 shares of the company’s stock, valued at $30,429. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ambac Financial Group

Hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C acquired a new stake in Ambac Financial Group in the second quarter valued at approximately $1,149,000. Creative Planning acquired a new position in Ambac Financial Group during the third quarter valued at $156,000. Marshall Wace LLP grew its holdings in Ambac Financial Group by 397.4% during the second quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock worth $4,432,000 after acquiring an additional 276,210 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Ambac Financial Group by 55.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 157,714 shares of the company’s stock worth $1,768,000 after purchasing an additional 56,036 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Ambac Financial Group by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company’s stock worth $37,857,000 after acquiring an additional 87,077 shares during the period. 84.49% of the stock is currently owned by hedge funds and other 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.