Zacks: MBIA Inc. (NYSE:MBI) Given Consensus Rating of “Buy” by Analysts

MBIA Inc. (NYSE:MBI) has been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. MBIA’s rating score has improved by 33.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus price objective of $12.00 for the company, according to Zacks. Zacks has also given MBIA an industry rank of 154 out of 265 based on the ratings given to related companies.

A number of analysts have recently commented on MBI shares. MKM Partners upgraded shares of MBIA from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, November 3rd. BTIG Research reissued a “buy” rating on shares of MBIA in a report on Thursday, October 29th.

In other MBIA news, Director Keith D. Curry purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 29th. The shares were bought at an average price of $6.57 per share, for a total transaction of $32,850.00. Following the acquisition, the director now owns 26,156 shares in the company, valued at $171,844.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph W. Brown sold 30,000 shares of the stock in a transaction that occurred on Thursday, December 31st. The stock was sold at an average price of $6.49, for a total transaction of $194,700.00. Following the completion of the transaction, the chief executive officer now owns 3,733,637 shares in the company, valued at approximately $24,231,304.13. The disclosure for this sale can be found here.

Shares of MBIA (NYSE:MBI) opened at 6.48 on Monday. The company’s 50 day moving average is $6.33 and its 200-day moving average is $6.76. MBIA has a 52 week low of $4.94 and a 52 week high of $9.98. The stock has a market capitalization of $991.15 million and a PE ratio of 9.89.

MBIA (NYSE:MBI) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. During the same quarter in the prior year, the business posted $0.63 earnings per share. The firm had revenue of $92 million for the quarter, compared to the consensus estimate of $82.50 million. The firm’s revenue for the quarter was down 68.4% compared to the same quarter last year. On average, equities analysts predict that MBIA will post $0.55 earnings per share for the current year.

12 Month Chart for NYSE:MBI

MBIA Inc. (NYSE:MBI) is a holding company. Through its subsidiary, the Company provides financial guarantee insurance to the United States public finance markets. The Company’s indirect, wholly owned subsidiary is National Public Finance Guarantee Corporation (National). The Company’s operating segments includes United States (U.S.) public finance insurance; international and structured finance insurance; corporate and advisory services. The U.S. public finance insurance business is operated through National Public Finance Guarantee Corporation and its subsidiaries (National). The international and structured finance insurance business is operated through MBIA Insurance Corporation and its subsidiaries (MBIA Corp.). The asset management and advisory services business is operated through Cutwater Holdings, LLC and its subsidiaries (Cutwater). National’s guarantees insure municipal bonds, including tax-exempt and taxable indebtedness of the United States political subdivisions.

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