Zacks Research Weighs in on NMI Holdings, Inc.’s Q3 2024 Earnings (NASDAQ:NMIH)

NMI Holdings, Inc. (NASDAQ:NMIH) – Research analysts at Zacks Research lifted their Q3 2024 EPS estimates for shares of NMI in a report released on Wednesday, August 28th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $1.09 per share for the quarter, up from their previous forecast of $1.08. The consensus estimate for NMI’s current full-year earnings is $4.33 per share. Zacks Research also issued estimates for NMI’s Q4 2024 earnings at $1.09 EPS, FY2024 earnings at $4.46 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.19 EPS, FY2025 earnings at $4.68 EPS and FY2026 earnings at $4.87 EPS.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm had revenue of $162.12 million for the quarter, compared to analyst estimates of $138.49 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the company. Royal Bank of Canada lifted their price target on NMI from $34.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Truist Financial boosted their price target on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. UBS Group downgraded shares of NMI from a “buy” rating to a “neutral” rating and boosted their target price for the company from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Finally, Compass Point raised their target price on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, NMI has an average rating of “Moderate Buy” and an average target price of $40.00.

NMI Stock Up 1.7 %

Shares of NMI stock opened at $41.07 on Friday. NMI has a 12-month low of $25.62 and a 12-month high of $42.01. The firm has a market capitalization of $3.30 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. The company has a quick ratio of 0.89, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $37.05 and its 200-day moving average is $33.37.

Hedge Funds Weigh In On NMI

Several hedge funds have recently bought and sold shares of NMIH. Opal Wealth Advisors LLC bought a new position in NMI in the 2nd quarter worth $29,000. Quarry LP grew its position in shares of NMI by 135.1% in the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 493 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of NMI in the first quarter worth about $31,000. TFO Wealth Partners LLC lifted its position in shares of NMI by 24,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in NMI during the 2nd quarter valued at approximately $63,000. 94.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NMI

In other NMI news, Director Michael J. Embler sold 26,008 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the transaction, the director now owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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.