Equities Analysts Boost Earnings Estimates for NMI Holdings Inc (NMIH)

Equities Analysts Boost Earnings Estimates for NMI Holdings Inc (NMIH)

NMI Holdings Inc (NASDAQ:NMIH) – Stock analysts at B. Riley lifted their FY2019 earnings estimates for NMI in a research report issued to clients and investors on Tuesday, May 7th. B. Riley analyst R. Binner now anticipates that the financial services provider will earn $2.25 per share for the year, up from their prior estimate of $2.15. B. Riley currently has a “Neutral” rating and a $26.00 target price on the stock. B. Riley also issued estimates for NMI’s FY2020 earnings at $2.75 EPS.

NMI (NASDAQ:NMIH) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. NMI had a net margin of 39.95% and a return on equity of 18.92%. The firm had revenue of $81.11 million for the quarter, compared to analysts’ expectations of $78.28 million.

A number of other brokerages have also recently commented on NMIH. Compass Point restated a “buy” rating and set a $33.00 target price (up previously from $30.50) on shares of NMI in a report on Thursday, May 2nd. Zacks Investment Research upgraded shares of NMI from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a report on Thursday, April 25th. Zelman & Associates cut shares of NMI from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. SunTrust Banks assumed coverage on shares of NMI in a report on Thursday, April 18th. They set a “buy” rating and a $34.00 target price on the stock. Finally, BidaskClub upgraded shares of NMI from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 20th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $28.11.

Shares of NMIH stock opened at $27.43 on Wednesday. NMI has a 12 month low of $15.06 and a 12 month high of $28.85. The firm has a market cap of $1.83 billion, a PE ratio of 16.52 and a beta of 1.40. The company has a current ratio of 0.45, a quick ratio of 0.33 and a debt-to-equity ratio of 0.19.

In related news, Director Steven Scheid sold 13,300 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $22.45, for a total value of $298,585.00. Following the transaction, the director now owns 67,491 shares in the company, valued at approximately $1,515,172.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Embler sold 5,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $27.76, for a total transaction of $138,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 392,073 shares of company stock worth $9,786,334. 4.20% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its position in NMI by 416.5% in the 4th quarter. Meeder Asset Management Inc. now owns 7,190 shares of the financial services provider’s stock worth $127,000 after buying an additional 5,798 shares during the last quarter. Bremer Trust National Association purchased a new position in NMI in the 4th quarter worth about $80,000. Vanguard Group Inc. raised its position in NMI by 9.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,439,629 shares of the financial services provider’s stock worth $123,208,000 after buying an additional 455,098 shares during the last quarter. BlackRock Inc. raised its position in NMI by 1.9% in the 4th quarter. BlackRock Inc. now owns 9,522,191 shares of the financial services provider’s stock worth $169,972,000 after buying an additional 182,089 shares during the last quarter. Finally, Millennium Management LLC raised its position in NMI by 15.3% in the 4th quarter. Millennium Management LLC now owns 187,660 shares of the financial services provider’s stock worth $3,350,000 after buying an additional 24,891 shares during the last quarter. Institutional investors own 91.06% of the company’s stock.

NMI Company Profile

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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