NMI Holdings, Inc. Expected to Earn Q2 2024 Earnings of $1.02 Per Share (NASDAQ:NMIH)

NMI Holdings, Inc. (NASDAQ:NMIH) – Stock analysts at Zacks Research increased their Q2 2024 earnings per share estimates for NMI in a research report issued on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $1.02 for the quarter, up from their previous forecast of $0.99. The consensus estimate for NMI’s current full-year earnings is $4.24 per share. Zacks Research also issued estimates for NMI’s Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $1.05 EPS, FY2024 earnings at $4.20 EPS, Q1 2025 earnings at $1.16 EPS, Q2 2025 earnings at $1.09 EPS, FY2025 earnings at $4.45 EPS, Q1 2026 earnings at $1.20 EPS and FY2026 earnings at $4.54 EPS.

Other equities analysts also recently issued research reports about the company. Truist Financial raised their target price on NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Compass Point increased their target price on shares of NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. UBS Group downgraded shares of NMI from a “buy” rating to a “neutral” rating and lifted their price target for the company from $37.00 to $39.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.56.

NMI Stock Down 1.6 %

NASDAQ NMIH opened at $32.57 on Wednesday. NMI has a 1-year low of $24.29 and a 1-year high of $34.33. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 1.16 and a beta of 1.06. The stock’s 50 day moving average is $31.57 and its two-hundred day moving average is $30.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. During the same period last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year.

Hedge Funds Weigh In On NMI

Several hedge funds have recently added to or reduced their stakes in the stock. Hancock Whitney Corp raised its position in shares of NMI by 1.6% in the 1st quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 346 shares during the period. Quadrant Capital Group LLC boosted its position in shares of NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 350 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of NMI by 0.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 48,423 shares of the financial services provider’s stock valued at $1,437,000 after buying an additional 388 shares during the period. Hsbc Holdings PLC raised its stake in NMI by 5.0% during the 3rd quarter. Hsbc Holdings PLC now owns 11,765 shares of the financial services provider’s stock worth $323,000 after buying an additional 565 shares during the period. Finally, Cerity Partners LLC lifted its holdings in NMI by 5.9% during the fourth quarter. Cerity Partners LLC now owns 11,567 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 644 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 value of $93,570.00. Following the transaction, the executive vice president now directly owns 82,612 shares in the company, valued at $2,576,668.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James G. Jones sold 54,900 shares of NMI stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $30.16, for a total transaction of $1,655,784.00. Following the sale, the director now directly owns 57,641 shares of the company’s stock, valued at approximately $1,738,452.56. The disclosure for this sale can be found here. Insiders sold a total of 125,763 shares of company stock worth $3,808,175 over the last 90 days. 2.70% of the stock is 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.