PMI Group, Inc. (PMI) Initiated Coverage by Compass Point

PMI Group, Inc. (PMI) has been initiated today with coverage by the research analysts at Compass Point.  Compass Point begins this new coverage of PMI with a price target set at $1 dollar, and rates performance of PMI as “neutral.”  PMI is down during intraday trading and has set a new 52-week low at $1.30 dollars.

PMI Group, Inc. is slated to release their next earnings report on July 28, 2011 and is estimated to post EPS of -45 cents.  Their last earnings report was released on May 5, 2011 and announced EPS of -0.89 with revenue totaling $135.9 million which was down -30.7 % year to year.  PMI is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

Through their subsidiary, PMI Mortgage Insurance Co. (“MIC”), and its affiliated companies (“PMI”), they provide residential mortgage insurance in the United States.  The company has market capitalization of $221,000,000 and 161,557,000 shares outstanding.  PMI has a 52-week high of $4.83 with the low being $1.30.

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