NMI (NASDAQ:NMIH) Announces Earnings Results, Beats Estimates By $0.12 EPS

NMI (NASDAQ:NMIH) released its quarterly earnings results on Tuesday. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12, Briefing.com reports. NMI had a net margin of 56.26% and a return on equity of 18.48%. The firm had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $133.76 million. During the same period in the prior year, the firm earned $0.88 EPS. The business’s revenue was up 14.2% on a year-over-year basis.

NMI Price Performance

Shares of NMIH stock traded up $0.27 on Thursday, reaching $31.92. The company had a trading volume of 22,839 shares, compared to its average volume of 542,699. The business’s 50-day moving average is $30.45 and its 200 day moving average is $29.47. NMI has a one year low of $22.49 and a one year high of $32.66. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.57 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06.

Insider Activity at NMI

In other NMI news, Chairman Bradley M. Shuster sold 12,836 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $30.53, for a total transaction of $391,883.08. Following the sale, the chairman now owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Bradley M. Shuster sold 12,836 shares of NMI stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $30.53, for a total transaction of $391,883.08. Following the sale, the chairman now directly owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bradley M. Shuster sold 6,559 shares of NMI stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total transaction of $195,523.79. Following the sale, the chairman now owns 453,298 shares in the company, valued at $13,512,813.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,158 shares of company stock valued at $4,395,582. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NMIH shares. Keefe, Bruyette & Woods lifted their price target on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Royal Bank of Canada lifted their price objective on shares of NMI from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial lifted their price target on shares of NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, NMI has an average rating of “Moderate Buy” and a consensus price target of $34.67.

NMI Company Profile

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.