Assured Guaranty reported earnings of $1.05 a share for the third quarter, above the 59 cents a share analysts surveyed by Thomson Reuters expected for the quarter. The company reported revenue of $149 million in the quarter, down from $173 million in the year-ago quarter, but above analysts' estimates of $144.63 million.
The company said it repurchased 9.6 million shares for $226 million in the third quarter. Adjusted book value grew to $52.52 at the end of the quarter, up from $50.82 at the end of the second quarter.
TheStreet Ratings team rates ASSURED GUARANTY LTD as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ASSURED GUARANTY LTD (AGO) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."