NMI (NASDAQ:NMIH) Issues Quarterly Earnings Results, Beats Expectations By $0.15 EPS

NMI (NASDAQ:NMIH) released its quarterly earnings results on Tuesday. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.15, Briefing.com reports. NMI had a net margin of 56.26% and a return on equity of 18.09%. The business had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year.

NMI Stock Up 1.1 %

NMI stock traded up $0.42 during mid-day trading on Wednesday, reaching $39.62. The stock had a trading volume of 49,112 shares, compared to its average volume of 532,895. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.98 and a beta of 1.09. The company has a 50-day moving average price of $34.44 and a two-hundred day moving average price of $32.13. NMI has a one year low of $25.62 and a one year high of $41.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89.

Analyst Ratings Changes

A number of analysts have recently commented on NMIH shares. Compass Point boosted their target price on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Barclays boosted their target price on shares of NMI from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. StockNews.com upgraded shares of NMI from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Truist Financial boosted their target price on shares of NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group cut 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 report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.44.

Insider Buying and Selling

In other news, insider William J. Leatherberry 44,725 shares of NMI stock in a transaction that occurred on Wednesday, July 31st. The was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

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.