MBIA (NYSE:MBI) Posts Quarterly Earnings Results, Misses Estimates By $0.46 EPS

MBIA (NYSE:MBI - Get Free Report) posted its quarterly earnings data on Thursday. The insurance provider reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.46), Zacks reports. The firm had revenue of $13.00 million for the quarter, compared to the consensus estimate of $29.00 million. During the same period last year, the business posted ($0.03) EPS.

MBIA Stock Down 8.8 %

MBI stock traded down $0.59 during midday trading on Friday, hitting $6.13. 782,848 shares of the company traded hands, compared to its average volume of 482,640. MBIA has a twelve month low of $5.21 and a twelve month high of $14.37. The business has a 50 day simple moving average of $6.49 and a 200-day simple moving average of $7.13. The stock has a market capitalization of $314.32 million, a price-to-earnings ratio of -0.60 and a beta of 1.47.

Wall Street Analyst Weigh In

A number of analysts have commented on MBI shares. Keefe, Bruyette & Woods reduced their price objective on shares of MBIA from $9.00 to $7.50 and set a "market perform" rating for the company in a research note on Monday, April 1st. StockNews.com raised shares of MBIA to a "sell" rating in a research report on Friday, February 23rd.

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.

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