NMI (NASDAQ:NMIH) Releases Earnings Results, Beats Estimates By $0.02 EPS


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NMI (NASDAQ:NMIH) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02, MarketWatch Earnings reports. NMI had a return on equity of 15.70% and a net margin of 40.51%. The business had revenue of $115.19 million for the quarter, compared to analyst estimates of $113.50 million. During the same period last year, the company posted $0.75 earnings per share. NMI’s quarterly revenue was up 7.0% compared to the same quarter last year.

NMIH traded up $0.50 on Tuesday, hitting $26.55. The company’s stock had a trading volume of 671,041 shares, compared to its average volume of 785,352. NMI has a 12 month low of $11.44 and a 12 month high of $26.62. The firm has a market cap of $2.27 billion, a P/E ratio of 11.75 and a beta of 1.72. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.30. The company’s 50 day simple moving average is $23.76 and its 200-day simple moving average is $23.24.

In related news, SVP Julie Norberg sold 2,933 shares of the stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $25.81, for a total transaction of $75,700.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William J. Leatherberry sold 10,568 shares of the firm’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $24.68, for a total value of $260,818.24. Insiders sold a total of 121,082 shares of company stock valued at $2,919,556 over the last quarter. 3.80% of the stock is owned by company insiders.

Several brokerages have recently issued reports on NMIH. TheStreet raised NMI from a “c+” rating to a “b-” rating in a research report on Thursday, March 18th. Zacks Investment Research upgraded shares of NMI from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, March 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. NMI presently has a consensus rating of “Buy” and an average price target of $24.55.

About NMI

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services; 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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Earnings History for NMI (NASDAQ:NMIH)

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