Roth Capital Has Negative Forecast for AMBC FY2024 Earnings

Ambac Financial Group, Inc. (NYSE:AMBC) – Equities 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 post earnings of $0.60 per share for the year, down from their prior estimate 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.

Several other research analysts have also commented on AMBC. StockNews.com lowered Ambac Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Roth Mkm raised shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $15.00 in a research note on Wednesday, September 18th.

Ambac Financial Group Price Performance

NYSE:AMBC opened at $12.10 on Friday. The stock has a 50 day moving average price of $11.36 and a 200 day moving average price of $12.80. The stock 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 quick ratio of 0.62 and a current ratio of 0.62. Ambac Financial Group has a one year low of $10.12 and a one year high of $18.45.

Hedge Funds Weigh In On Ambac Financial Group

Institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund Corp lifted its holdings in Ambac Financial Group by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock worth $618,000 after buying an additional 770 shares in the last quarter. PDT Partners LLC grew its stake in 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 purchasing an additional 1,032 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Ambac Financial Group by 0.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 172,656 shares of the company’s stock worth $1,935,000 after purchasing an additional 1,200 shares during the period. Illinois Municipal Retirement Fund raised its position in Ambac Financial Group by 4.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 27,952 shares of the company’s stock valued at $437,000 after purchasing 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 buying an additional 1,637 shares during the period. 84.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kristi Ann Matus acquired 2,700 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $11.27 per share, with a total value of $30,429.00. Following the completion of 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.00% of the company’s stock.

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.