NMI Holdings Inc (NASDAQ:NMIH) – Equities researchers at B. Riley raised their FY2019 earnings estimates for shares of NMI in a research report issued to clients and investors on Friday, August 2nd. B. Riley analyst R. Binner now anticipates that the financial services provider will earn $2.35 per share for the year, up from their previous forecast of $2.30. B. Riley has a “Hold” rating and a $30.00 price target on the stock. B. Riley also issued estimates for NMI’s FY2020 earnings at $2.85 EPS, Q1 2021 earnings at $0.84 EPS, Q2 2021 earnings at $0.80 EPS and FY2021 earnings at $3.35 EPS.
NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. NMI had a net margin of 41.31% and a return on equity of 19.65%. The company had revenue of $91.18 million during the quarter, compared to analysts’ expectations of $85.11 million.
A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of NMI from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of NMI from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, July 26th. Compass Point restated a “buy” rating and issued a $33.00 price objective (up previously from $30.50) on shares of NMI in a research note on Thursday, May 2nd. Zelman & Associates upgraded shares of NMI from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, BTIG Research set a $36.00 target price on shares of NMI and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. NMI presently has an average rating of “Buy” and a consensus target price of $30.63.
Shares of NMIH stock opened at $26.01 on Monday. NMI has a 52-week low of $15.62 and a 52-week high of $31.34. The firm has a market cap of $1.76 billion, a PE ratio of 15.67 and a beta of 1.29. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $27.59.
Institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. bought a new stake in NMI during the 1st quarter worth about $38,000. NumerixS Investment Technologies Inc grew its holdings in NMI by 994.2% during the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 3,271 shares during the last quarter. Bremer Bank National Association bought a new stake in NMI during the 1st quarter worth about $126,000. First Hawaiian Bank bought a new stake in NMI during the 1st quarter worth about $150,000. Finally, Squarepoint Ops LLC bought a new stake in NMI during the 4th quarter worth about $197,000. Institutional investors and hedge funds own 90.08% of the company’s stock.
In related news, Director Steven Scheid sold 4,923 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $26.24, for a total transaction of $129,179.52. Following the completion of the sale, the director now owns 58,545 shares in the company, valued at approximately $1,536,220.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Pollitzer sold 4,092 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $28.05, for a total transaction of $114,780.60. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
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.
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