MBIA (MBI) Soars 15.4%: Is Further Upside Left in the Stock?

MBIA (MBI) shares ended the last trading session 15.4% higher at $7.11. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.7% loss over the past four weeks.MBI is poised to grow on the insurer’s focus to improve revenues while lower expenses. While  lower losses related to variable interest entities associated with MBIA Insurance Corp. should drive revenues, lower loss and loss adjustment expense should favor expenses.This insurance and reinsurance company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +31.3%. Revenues are expected to be $22 million, down 38.9% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For MBIA, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MBI going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>MBIA is part of the Zacks Insurance - Multi line industry. Principal Financial (PFG), another stock in the same industry, closed the last trading session 1.3% lower at $82.45. PFG has returned 7.9% in the past month.For Principal Financial, the consensus EPS estimate for the upcoming report has changed +1.1% over the past month to $1.95. This represents a change of +6.6% from what the company reported a year ago. Principal Financial currently has a Zacks Rank of #3 (Hold).Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MBIA, Inc. (MBI): Free Stock Analysis Report Principal Financial Group, Inc. (PFG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks