Assured Guaranty Ltd. (AGO) Releases Earnings Results, Beats Expectations By $0.51 EPS
Assured Guaranty Ltd. (NYSE:AGO) posted its earnings results on Thursday. The financial services provider reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.51, Briefing.com reports. The company had revenue of $623.00 million during the quarter, compared to analyst estimates of $262.09 million. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. Assured Guaranty’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.74 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be issued a $0.142 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.57 annualized dividend and a yield of 1.53%. Assured Guaranty’s dividend payout ratio (DPR) is presently 6.46%.
A number of analysts have recently weighed in on AGO shares. BidaskClub upgraded shares of Assured Guaranty from a “hold” rating to a “buy” rating in a report on Friday, July 7th. BTIG Research restated a “buy” rating and issued a $49.00 price objective on shares of Assured Guaranty in a report on Friday, July 14th. UBS AG restated a “buy” rating and issued a $47.00 price objective (down from $49.00) on shares of Assured Guaranty in a report on Wednesday, October 4th. Finally, MKM Partners restated a “buy” rating on shares of Assured Guaranty in a report on Thursday, October 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Assured Guaranty presently has a consensus rating of “Buy” and an average target price of $47.00.
Assured Guaranty Company Profile
Assured Guaranty Ltd. is a holding company. The Company, through its subsidiaries, provides credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It applies its credit underwriting judgment, risk management skills and capital markets experience primarily to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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