Assured Guaranty (NYSE:AGO) released its earnings results on Wednesday. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.62, Briefing.com reports. Assured Guaranty had a net margin of 46.89% and a return on equity of 7.27%. The business had revenue of $266.00 million during the quarter, compared to analyst estimates of $222.39 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year.
Shares of AGO traded up $0.20 during mid-day trading on Friday, reaching $45.87. The stock had a trading volume of 653,212 shares, compared to its average volume of 486,135. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.51 and a current ratio of 0.51. Assured Guaranty has a 52-week low of $36.13 and a 52-week high of $47.97. The company has a fifty day moving average of $43.45. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 9.41 and a beta of 1.06.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, August 20th.
A number of research firms have recently issued reports on AGO. MKM Partners upped their target price on shares of Assured Guaranty to $65.00 and gave the stock a “buy” rating in a report on Friday, May 10th. ValuEngine lowered shares of Assured Guaranty from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, BTIG Research began coverage on shares of Assured Guaranty in a report on Friday, August 2nd. They set a “buy” rating and a $52.00 target price for the company.
Assured Guaranty Company Profile
Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
Further Reading: Cost of Equity For A Business, Investors
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