MBIA Inc. (MBI) Trading Down 1.6%
Shares of MBIA Inc. (NYSE:MBI) traded down 1.6% during trading on Thursday . The company traded as low as $7.38 and last traded at $7.41, with a volume of 951,046 shares changing hands. The stock had previously closed at $7.53.
A number of analysts have commented on the stock. MKM Partners reaffirmed a “buy” rating and set a $12.00 target price on shares of MBIA in a report on Thursday, June 16th. BTIG Research reissued a “buy” rating and issued a $13.00 price objective on shares of MBIA in a research note on Wednesday, May 11th. S&P Equity Research reissued a “positive” rating on shares of MBIA in a research note on Wednesday, June 15th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of MBIA in a research note on Monday, April 25th. They issued a “market perform” rating and a $8.50 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of C$11.50.
The stock has a 50 day moving average price of $7.01 and a 200 day moving average price of $7.33. The stock has a market capitalization of $1.06 billion and a PE ratio of 41.73.
MBIA (NYSE:MBI) last released its earnings results on Monday, May 9th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $32 million for the quarter, compared to the consensus estimate of $136.60 million. During the same period in the previous year, the business earned $0.37 EPS. The firm’s quarterly revenue was down 85.4% compared to the same quarter last year. Equities analysts anticipate that MBIA Inc. will post $0.45 EPS for the current year.
Other hedge funds recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in MBIA by 416.3% in the fourth quarter. Marshall Wace LLP now owns 218,587 shares of the company’s stock worth $1,416,000 after buying an additional 176,251 shares during the period. California State Teachers Retirement System boosted its stake in MBIA by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 252,119 shares of the company’s stock worth $1,634,000 after buying an additional 4,010 shares during the period. Russell Frank Co boosted its stake in MBIA by 255.4% in the fourth quarter. Russell Frank Co now owns 423,368 shares of the company’s stock worth $2,739,000 after buying an additional 304,228 shares during the period. California Public Employees Retirement System boosted its stake in MBIA by 12.6% in the fourth quarter. California Public Employees Retirement System now owns 836,200 shares of the company’s stock worth $5,419,000 after buying an additional 93,900 shares during the period. Finally, Bank of Montreal Can boosted its stake in MBIA by 75.2% in the fourth quarter. Bank of Montreal Can now owns 1,402,335 shares of the company’s stock worth $9,087,000 after buying an additional 602,073 shares during the period.
MBIA Inc (MBIA) is a holding company. The Company, through its subsidiary, National Public Finance Guarantee Corporation (National), is engaged in providing financial guarantee insurance to the United States public finance markets. MBIA’s segments include United States (U.S.) public finance insurance, international and structured finance insurance, and corporate.
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