Ambac Financial Group (AMBC) Releases Earnings Results, Beats Expectations By $1.60 EPS

Ambac Financial Group (AMBC) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $2.54 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $1.60. Analysts had a consensus of $0.94. The company posted revenue of $106.70 million in the period, compared to analysts expectations of $119.29 million. The company’s revenue was down -53.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.70 EPS.

Ambac Financial Group opened for trading at $18.45 and hit $18.66 on the upside on Monday, eventually ending the session at $18.63, with a gain of 1.25% or 0.23 points. The heightened volatility saw the trading volume jump to 2,52,641 shares. Company has a market cap of $839 M.

In a different news, on Jun 28, 2016, Tavakoli Nader (CEO) purchased 20,000 shares at $15.15 per share price. According to the SEC, on Apr 7, 2016, Alexander David Greene (director) purchased 10,000 shares at $15.05 per share price. On Jan 8, 2016, Jeffrey Scott Stein (director) purchased 4,500 shares at $12.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Ambac Financial Group

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