Zacks Investment Research upgraded shares of NMI (NASDAQ:NMIH) from a sell rating to a hold rating in a report published on Friday.
According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “
Several other brokerages have also issued reports on NMIH. Keefe, Bruyette & Woods restated a buy rating and set a $25.00 price target on shares of NMI in a research note on Friday, February 23rd. Susquehanna Bancshares assumed coverage on shares of NMI in a research note on Tuesday, February 20th. They set a positive rating and a $26.00 price target for the company. BTIG Research restated a buy rating and set a $21.00 price target on shares of NMI in a research note on Sunday, February 18th. BidaskClub upgraded shares of NMI from a buy rating to a strong-buy rating in a research note on Thursday, January 18th. Finally, ValuEngine upgraded shares of NMI from a hold rating to a buy rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $21.86.
Shares of NMIH stock traded up $0.15 during trading hours on Friday, hitting $17.70. 840,293 shares of the company were exchanged, compared to its average volume of 976,945. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.28. NMI has a 52-week low of $10.10 and a 52-week high of $21.92. The firm has a market cap of $1,143.30, a P/E ratio of 31.05 and a beta of 0.87.
NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.05. NMI had a net margin of 12.07% and a return on equity of 7.89%. The company had revenue of $54.54 million during the quarter, compared to analyst estimates of $51.32 million. During the same quarter last year, the business posted $0.04 EPS. NMI’s quarterly revenue was up 48.9% compared to the same quarter last year. equities analysts expect that NMI will post 1.34 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its stake in NMI by 40.4% in the 4th quarter. Macquarie Group Ltd. now owns 12,850 shares of the financial services provider’s stock valued at $218,000 after buying an additional 3,700 shares in the last quarter. First Trust Advisors LP grew its stake in NMI by 13.8% in the 4th quarter. First Trust Advisors LP now owns 48,202 shares of the financial services provider’s stock valued at $819,000 after buying an additional 5,833 shares in the last quarter. American International Group Inc. grew its stake in NMI by 17.4% in the 4th quarter. American International Group Inc. now owns 44,890 shares of the financial services provider’s stock valued at $763,000 after buying an additional 6,668 shares in the last quarter. Sterling Capital Management LLC grew its stake in NMI by 31.8% in the 3rd quarter. Sterling Capital Management LLC now owns 33,100 shares of the financial services provider’s stock valued at $410,000 after buying an additional 7,987 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new position in NMI in the 4th quarter valued at $136,000. Institutional investors and hedge funds own 84.31% of the company’s stock.
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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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