NMI (NASDAQ:NMIH) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

NMI (NASDAQ:NMIH) posted its earnings results on Tuesday. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12, Briefing.com reports. The company had revenue of $156.25 million for the quarter, compared to the consensus estimate of $133.76 million. NMI had a return on equity of 17.97% and a net margin of 55.63%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share.

NMI Stock Up 5.1 %

NMI stock traded up $1.57 during mid-day trading on Wednesday, reaching $32.43. 43,218 shares of the company were exchanged, compared to its average volume of 542,081. The business has a fifty day moving average of $30.40 and a 200 day moving average of $29.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $2.61 billion, a P/E ratio of 8.04, a PEG ratio of 1.15 and a beta of 1.06. NMI has a 12-month low of $22.40 and a 12-month high of $32.54.

Insiders Place Their Bets

In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Nicholas Daniel Realmuto sold 1,249 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.23, for a total transaction of $37,757.27. Following the completion of the sale, the vice president now owns 10,455 shares in the company, valued at approximately $316,054.65. The sale 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 stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the sale, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. Insiders sold a total of 145,158 shares of company stock worth $4,395,582 over the last 90 days. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NMIH. JPMorgan Chase & Co. boosted their target price on NMI from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada upped their price objective on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Keefe, Bruyette & Woods upped their price objective on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, April 4th. Finally, Truist Financial upped their price objective on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, NMI presently has a consensus rating of “Moderate Buy” and an average price target of $34.56.

NMI Company Profile

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.