Financial guaranty insurer Assured Guaranty (NYSE: AGO) will be announcing earnings results this Thursday afternoon. Here’s what to expect.
Assured Guaranty beat analysts’ revenue expectations last quarter, reporting revenues of $261 million, down 24.3% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Assured Guaranty a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Assured Guaranty’s revenue to decline 28.7% year on year, a reversal from the 39.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Assured Guaranty rarely misses Wall Street’s revenue estimates.
Looking at Assured Guaranty’s peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Mercury General delivered year-on-year revenue growth of 14%, beating analysts’ expectations by 10.3%, and First American Financial reported revenues up 15%, topping estimates by 3.4%. First American Financial traded down 2.2% following the results.
Read our full analysis of Mercury General’s results here and First American Financial’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. Assured Guaranty’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $91.67 (compared to the current share price of $82.92).
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