NMI (NASDAQ:NMIH) Issues Earnings Results, Beats Estimates By $0.04 EPS

NMI (NASDAQ:NMIH) released its quarterly earnings data on Wednesday. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04, Morningstar.com reports. NMI had a return on equity of 18.92% and a net margin of 39.95%. The business had revenue of $91.18 million during the quarter, compared to analyst estimates of $85.11 million.

NMIH stock traded up $0.62 during trading on Thursday, reaching $25.50. 745,716 shares of the company’s stock were exchanged, compared to its average volume of 446,550. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.19. NMI has a 1-year low of $15.62 and a 1-year high of $31.34. The company has a fifty day simple moving average of $27.92. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 15.36 and a beta of 1.32.

In other news, CFO Adam Pollitzer sold 4,092 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $28.05, for a total value of $114,780.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Embler sold 5,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $27.76, for a total value of $138,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,015 shares of company stock valued at $382,760 in the last quarter. 4.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. bought a new stake in shares of NMI in the 1st quarter worth $38,000. NumerixS Investment Technologies Inc raised its position in shares of NMI by 994.2% during the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 3,271 shares during the period. Bremer Bank National Association acquired a new stake in shares of NMI during the first quarter worth $126,000. First Hawaiian Bank acquired a new stake in shares of NMI during the first quarter worth $150,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of NMI during the fourth quarter worth $197,000. 90.16% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the company. Zelman & Associates lowered NMI from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. SunTrust Banks assumed coverage on NMI in a research report on Thursday, April 18th. They set a “buy” rating and a $34.00 price target for the company. B. Riley boosted their price target on NMI from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 26th. ValuEngine lowered NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, Zacks Investment Research upgraded NMI from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $28.56.

About NMI

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

Further Reading: Retained Earnings

Earnings History for NMI (NASDAQ:NMIH)

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