NMI (NASDAQ:NMIH) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

NMI (NASDAQ:NMIH - Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.18, Zacks reports. The firm had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. NMI had a return on equity of 17.33% and a net margin of 55.32%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share.

NMI Trading Up 3.3 %

NMIH traded up $1.19 during trading on Friday, hitting $37.57. 159,042 shares of the stock were exchanged, compared to its average volume of 545,950. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. The firm has a 50 day simple moving average of $34.90 and a 200 day simple moving average of $36.80. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 1.41 and a beta of 0.62. NMI has a 1 year low of $31.59 and a 1 year high of $42.49.

Wall Street Analysts Forecast Growth

NMIH has been the topic of several analyst reports. Barclays downgraded NMI from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $48.00 to $41.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price target on shares of NMI from $43.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. UBS Group reduced their price objective on shares of NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their target price on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.14.

Insider Transactions at NMI

In other NMI news, EVP Norman Peter Fitzgerald sold 20,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now owns 37,470 shares of the company's stock, valued at approximately $1,344,423.60. This trade represents a 34.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $35.44, for a total value of $38,381.52. Following the sale, the executive vice president now owns 49,218 shares of the company's stock, valued at $1,744,285.92. This trade represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.

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.