Zacks Research Weighs in on NMI Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:NMIH)

NMI Holdings, Inc. (NASDAQ:NMIH) – Zacks Research upped their Q2 2024 earnings per share estimates for shares of NMI in a research note issued to investors on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the financial services provider will earn $1.02 per share for the quarter, up from their prior estimate of $0.99. The consensus estimate for NMI’s current full-year earnings is $4.24 per share. Zacks Research also issued estimates for NMI’s Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $1.05 EPS, FY2024 earnings at $4.20 EPS, Q1 2025 earnings at $1.16 EPS, Q2 2025 earnings at $1.09 EPS, FY2025 earnings at $4.45 EPS, Q1 2026 earnings at $1.20 EPS and FY2026 earnings at $4.54 EPS.

Other analysts have also issued research reports about the stock. Compass Point lifted their target price on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Royal Bank of Canada boosted their price objective on 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 upgraded NMI from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. UBS Group cut NMI from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $37.00 to $39.00 in a research report on Wednesday. Finally, Truist Financial raised their price objective on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.56.

NMI Price Performance

NMI stock opened at $32.57 on Wednesday. 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 company’s fifty day moving average price is $31.57 and its 200 day moving average price is $30.10. The stock has a market capitalization of $2.61 billion, a P/E ratio of 8.06, a P/E/G ratio of 1.16 and a beta of 1.06. NMI has a 1 year low of $24.29 and a 1 year high of $34.33.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. During the same period in the previous year, the business earned $0.88 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year.

Hedge Funds Weigh In On NMI

A number of hedge funds have recently made changes to their positions in NMIH. Daiwa Securities Group Inc. acquired a new position in NMI during the fourth quarter worth $27,000. Fidelis Capital Partners LLC acquired a new position in NMI during the 1st quarter worth about $31,000. TFO Wealth Partners LLC boosted its holdings in NMI by 24,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,225 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in NMI in the 4th quarter valued at about $145,000. Finally, Quadrant Capital Group LLC increased its stake in NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Insider Activity at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total transaction of $33,454.15. Following the completion of the sale, the executive vice president now owns 32,909 shares in the company, valued at approximately $985,624.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $29.95, for a total transaction of $33,454.15. Following the completion of the transaction, the executive vice president now directly owns 32,909 shares in the company, valued at approximately $985,624.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the sale, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,763 shares of company stock valued at $3,808,175. 2.70% of the stock is owned by company insiders.

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.