NMI (NASDAQ:NMIH) Announces Quarterly Earnings Results

NMI (NASDAQ:NMIH - Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12, Briefing.com reports. The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a net margin of 55.63% and a return on equity of 17.97%. The company's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share.

NMI Stock Up 2.6 %

Shares of NASDAQ:NMIH traded up $0.79 during trading on Wednesday, reaching $31.65. 615,212 shares of the stock traded hands, compared to its average volume of 548,995. The stock has a 50-day moving average of $30.45 and a two-hundred day moving average of $29.47. NMI has a 52-week low of $22.40 and a 52-week high of $32.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $2.55 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NMIH shares. Truist Financial upped their price objective on shares of NMI from $36.00 to $37.00 and gave the company a "buy" rating in a research note 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 research note on Thursday, February 15th. Keefe, Bruyette & Woods increased their price target on shares of NMI from $33.00 to $36.00 and gave the stock a "market perform" rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. increased their price target on shares of NMI from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, StockNews.com downgraded shares of NMI from a "buy" rating to a "hold" rating in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.67.

Insider Activity

In other news, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the sale, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the sale, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Nicholas Daniel Realmuto sold 1,803 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $30.08, for a total transaction of $54,234.24. Following the transaction, the vice president now owns 10,128 shares in the company, valued at approximately $304,650.24. 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 over the last 90 days. 2.40% of the stock is currently owned by insiders.

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.