Zacks Research Weighs in on NMI Holdings, Inc.’s FY2024 Earnings (NASDAQ:NMIH)

NMI Holdings, Inc. (NASDAQ:NMIH) – Analysts at Zacks Research boosted their FY2024 earnings per share estimates for NMI in a research report issued on Thursday, September 26th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings of $4.47 per share for the year, up from their previous forecast of $4.46. The consensus estimate for NMI’s current full-year earnings is $4.50 per share. Zacks Research also issued estimates for NMI’s Q4 2024 earnings at $1.10 EPS, Q4 2025 earnings at $1.20 EPS, FY2025 earnings at $4.69 EPS and FY2026 earnings at $4.89 EPS.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Barclays raised their price objective on NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial boosted their target price on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

NMI Trading Down 0.1 %

NMI stock opened at $41.13 on Monday. NMI has a 1 year low of $25.62 and a 1 year high of $42.49. The firm’s 50 day moving average price is $39.48 and its 200-day moving average price is $35.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $3.30 billion, a P/E ratio of 10.18, a PEG ratio of 0.94 and a beta of 1.12.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. NMI had a return on equity of 18.29% and a net margin of 56.40%. The company had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. During the same period in the previous year, the firm earned $0.95 EPS. The firm’s revenue was up 13.6% 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 company. Hancock Whitney Corp grew its stake in shares of NMI by 1.6% during the first quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock valued at $715,000 after buying an additional 346 shares during the last quarter. Quarry LP boosted its holdings in NMI by 135.1% during the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 493 shares during the period. Federated Hermes Inc. grew its position in NMI by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 593 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in NMI by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 666 shares during the period. Finally, Profund Advisors LLC increased its stake in NMI by 11.9% in the second quarter. Profund Advisors LLC now owns 7,775 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 824 shares during the period. 94.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NMI

In other news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares in the company, valued at approximately $6,158,318.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares in the company, valued at $6,158,318.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The disclosure for this sale can be found here. Company insiders own 2.70% 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.