NMI (NASDAQ:NMIH) Issues Earnings Results, Beats Estimates By $0.15 EPS

NMI (NASDAQ:NMIH) issued its earnings results on Tuesday. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15, Briefing.com reports. NMI had a return on equity of 18.09% and a net margin of 56.26%. The firm had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year.

NMI Stock Up 1.1 %

Shares of NASDAQ NMIH traded up $0.42 during midday trading on Wednesday, reaching $39.62. 49,112 shares of the company’s stock were exchanged, compared to its average volume of 532,895. NMI has a 52-week low of $25.62 and a 52-week high of $41.93. The stock has a market capitalization of $3.18 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The business’s fifty day moving average price is $34.44 and its two-hundred day moving average price is $32.13.

Analysts Set New Price Targets

NMIH has been the topic of a number of research analyst reports. Truist Financial lifted their target price on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Compass Point raised their price objective on NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price objective on NMI from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. StockNews.com raised NMI from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price objective on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, NMI has an average rating of “Moderate Buy” and an average target price of $36.44.

Insider Transactions at NMI

In other news, insider William J. Leatherberry 44,725 shares of the company’s stock in a transaction dated Wednesday, July 31st. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.