Assured Guaranty Stock Price Up 6% on Earnings Beat (AGO)
Assured Guaranty (NYSE:AGO) shares rose 6% on Thursday after the company announced better than expected quarterly earnings, Stock Ratings Network reports. The stock traded as high as $25.71 and last traded at $25.41, with a volume of 1,702,787 shares trading hands. The stock had previously closed at $23.98.
The company reported $0.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.11. The company had revenue of $297.00 million for the quarter, compared to the consensus estimate of $167.60 million. During the same quarter in the prior year, the company posted $1.34 earnings per share. The company’s quarterly revenue was down 23.8% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, June 4th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Monday, May 19th.
The stock’s 50-day moving average is $24.5 and its 200-day moving average is $23.33. The company has a market cap of $4.594 billion and a price-to-earnings ratio of 5.58.
Assured Guaranty Ltd. (NYSE:AGO) is a Bermuda-based holding company.
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