Published on 9 May 2024 on Zacks via Yahoo Finance
Ambac Financial Group, Inc. (AMBC) Hits Fresh High: Is There Still Room to Run?
Have you been paying attention to shares of Ambac Financial Group (AMBC)? Shares have been on the move with the stock up 22.5% over the past month. The stock hit a new 52-week high of $18.45 in the previous session. Ambac Financial Group has gained 11.2% since the start of the year compared to the 2.7% move for the Zacks Finance sector and the 14.2% return for the Zacks Insurance - Property and Casualty industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on May 6, 2024, Ambac reported EPS of $0.82 versus consensus estimate of $0.21.