NMI Holdings Inc (NASDAQ:NMIH) Expected to Post Quarterly Sales of $101.91 Million

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Wall Street brokerages expect that NMI Holdings Inc (NASDAQ:NMIH) will post sales of $101.91 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for NMI’s earnings, with the highest sales estimate coming in at $104.11 million and the lowest estimate coming in at $99.70 million. NMI reported sales of $76.26 million during the same quarter last year, which indicates a positive year over year growth rate of 33.6%. The business is expected to issue its next quarterly earnings results on Tuesday, February 11th.

According to Zacks, analysts expect that NMI will report full year sales of $372.65 million for the current year, with estimates ranging from $367.30 million to $377.99 million. For the next fiscal year, analysts anticipate that the business will report sales of $458.31 million, with estimates ranging from $448.50 million to $468.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover NMI.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.09. The company had revenue of $101.59 million during the quarter, compared to the consensus estimate of $94.67 million. NMI had a net margin of 44.92% and a return on equity of 20.63%.

Several equities research analysts recently weighed in on the stock. Credit Suisse Group reissued a “hold” rating and set a $33.00 price target on shares of NMI in a research report on Sunday, November 24th. Zacks Investment Research raised shares of NMI from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Saturday, November 9th. ValuEngine downgraded shares of NMI from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub downgraded shares of NMI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 7th. Finally, B. Riley raised shares of NMI from a “neutral” rating to a “buy” rating and raised their price target for the company from $30.00 to $34.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.38.

Shares of NMIH traded up $0.39 on Friday, hitting $32.66. 411,774 shares of the stock traded hands, compared to its average volume of 439,177. The company has a market capitalization of $2.28 billion, a PE ratio of 19.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.48 and a current ratio of 0.48. The business has a 50 day simple moving average of $31.25 and a 200 day simple moving average of $28.55. NMI has a one year low of $15.62 and a one year high of $34.50.

In related news, Chairman Bradley M. Shuster sold 25,625 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $27.95, for a total value of $716,218.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Adam Pollitzer sold 4,821 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $28.02, for a total transaction of $135,084.42. The disclosure for this sale can be found here. Insiders sold 317,622 shares of company stock worth $9,798,312 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of NMIH. Tower Research Capital LLC TRC purchased a new position in shares of NMI during the 3rd quarter worth $27,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of NMI during the 2nd quarter valued at $34,000. C M Bidwell & Associates Ltd. purchased a new position in shares of NMI during the 2nd quarter valued at $52,000. Point72 Hong Kong Ltd purchased a new position in shares of NMI during the 2nd quarter valued at $83,000. Finally, Point72 Asset Management L.P. bought a new stake in NMI in the 2nd quarter valued at $94,000. Institutional investors own 89.63% of the company’s stock.

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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Earnings History and Estimates for NMI (NASDAQ:NMIH)

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