Wall Street brokerages expect NMI Holdings (NASDAQ:NMIH) to report $0.32 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for NMI’s earnings. NMI reported earnings per share of $0.10 during the same quarter last year, which would indicate a positive year over year growth rate of 220%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that NMI will report full year earnings of $1.45 per share for the current financial year, with EPS estimates ranging from $1.40 to $1.50. For the next year, analysts anticipate that the business will report earnings of $2.04 per share, with EPS estimates ranging from $1.85 to $2.22. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow NMI.
NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, May 1st. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. NMI had a net margin of 18.96% and a return on equity of 10.27%. The business had revenue of $59.55 million during the quarter.
NMIH has been the subject of a number of analyst reports. Royal Bank of Canada initiated coverage on shares of NMI in a report on Thursday, April 19th. They issued an “outperform” rating and a $18.00 price target for the company. BTIG Research reaffirmed a “buy” rating and issued a $21.00 price target on shares of NMI in a report on Sunday, February 18th. Susquehanna Bancshares initiated coverage on shares of NMI in a report on Tuesday, February 20th. They issued a “positive” rating and a $26.00 price target for the company. TheStreet downgraded shares of NMI from a “b” rating to a “c+” rating in a report on Tuesday, March 20th. Finally, Zacks Investment Research downgraded shares of NMI from a “strong-buy” rating to a “sell” rating in a report on Tuesday, March 13th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $19.67.
In related news, SVP Julie Norberg sold 3,162 shares of the stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $16.58, for a total value of $52,425.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Patrick L. Mathis sold 21,000 shares of the stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $15.77, for a total transaction of $331,170.00. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of NMIH. California Public Employees Retirement System raised its position in NMI by 26.8% in the 3rd quarter. California Public Employees Retirement System now owns 43,606 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 9,206 shares during the period. Louisiana State Employees Retirement System purchased a new stake in NMI in the 4th quarter worth about $391,000. Bank of Montreal Can raised its position in NMI by 130.6% in the 4th quarter. Bank of Montreal Can now owns 206,822 shares of the financial services provider’s stock worth $3,516,000 after purchasing an additional 117,150 shares during the period. State of Alaska Department of Revenue purchased a new stake in NMI in the 4th quarter worth about $180,000. Finally, Texas Permanent School Fund purchased a new stake in NMI in the 4th quarter worth about $614,000. 89.60% of the stock is currently owned by institutional investors.
Shares of NMI traded up $0.10, hitting $17.30, during midday trading on Thursday, according to Marketbeat.com. 326,000 shares of the company traded hands, compared to its average volume of 706,269. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.24. NMI has a 52 week low of $10.10 and a 52 week high of $21.92. The company has a market capitalization of $1.13 billion, a PE ratio of 30.35 and a beta of 0.89.
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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