Zacks: Brokerages Anticipate NMI Holdings Inc (NMIH) Will Announce Earnings of $0.38 Per Share

Equities research analysts expect NMI Holdings Inc (NASDAQ:NMIH) to announce earnings per share (EPS) of $0.38 for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for NMI’s earnings. NMI reported earnings of $0.20 per share during the same quarter last year, which indicates a positive year over year growth rate of 90%. The business is scheduled to issue its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that NMI will report full-year earnings of $1.48 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.51. For the next year, analysts expect that the company will post earnings of $2.14 per share, with EPS estimates ranging from $2.05 to $2.23. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for NMI.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. NMI had a net margin of 18.96% and a return on equity of 10.27%. The company had revenue of $67.45 million during the quarter.

A number of brokerages recently issued reports on NMIH. Susquehanna Bancshares set a $24.00 price target on shares of NMI and gave the company a “buy” rating in a research report on Thursday. BidaskClub raised shares of NMI from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Compass Point set a $24.00 target price on shares of NMI and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of NMI from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Tuesday, July 17th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $24.00 target price on shares of NMI in a report on Thursday. Nine research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. NMI presently has a consensus rating of “Buy” and a consensus target price of $21.67.

In other news, SVP Julie Norberg sold 3,162 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $16.58, for a total transaction of $52,425.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bradley M. Shuster sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $17.16, for a total transaction of $514,800.00. Following the transaction, the chief executive officer now directly owns 583,056 shares of the company’s stock, valued at $10,005,240.96. The disclosure for this sale can be found here. Insiders sold 198,408 shares of company stock valued at $3,382,925 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of NMI during the first quarter valued at approximately $126,000. Kessler Investment Group LLC purchased a new position in shares of NMI during the second quarter valued at approximately $133,000. Nisa Investment Advisors LLC purchased a new position in shares of NMI during the second quarter valued at approximately $144,000. SG Americas Securities LLC purchased a new position in shares of NMI during the first quarter valued at approximately $159,000. Finally, 6 Meridian purchased a new position in shares of NMI during the first quarter valued at approximately $170,000. 89.21% of the stock is owned by hedge funds and other institutional investors.

NASDAQ NMIH traded up $1.45 during trading hours on Thursday, reaching $22.35. 831,700 shares of the company’s stock traded hands, compared to its average volume of 622,422. NMI has a 52-week low of $10.10 and a 52-week high of $22.50. The stock has a market cap of $1.37 billion, a P/E ratio of 39.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.68 and a quick ratio of 0.68.

About NMI

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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