NMI (NASDAQ:NMIH) Announces 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12, Briefing.com reports. The business had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.48%. NMI’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS.

NMI Trading Up 0.9 %

Shares of NMIH traded up $0.27 during trading hours on Thursday, hitting $31.92. The company had a trading volume of 22,839 shares, compared to its average volume of 542,699. The firm has a market cap of $2.57 billion, a P/E ratio of 7.83, a P/E/G ratio of 1.14 and a beta of 1.06. NMI has a 52-week low of $22.49 and a 52-week high of $32.66. The stock’s 50 day moving average price is $30.45 and its 200 day moving average price is $29.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.21.

Insider Buying and Selling

In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Bradley M. Shuster sold 6,559 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total transaction of $195,523.79. Following the transaction, the chairman now directly owns 453,298 shares of the company’s stock, valued at $13,512,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 have sold a total of 145,158 shares of company stock worth $4,395,582 in the last ninety days. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com cut shares of NMI from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial lifted their target price on shares of NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada increased their price target on shares of NMI from $31.00 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average price target of $34.67.

About NMI

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.