NMI (NASDAQ:NMIH) PT Raised to $32.00

NMI (NASDAQ:NMIH) had its price objective upped by B. Riley from $30.00 to $32.00 in a report published on Wednesday morning, The Fly reports. They currently have a buy rating on the financial services provider’s stock.

NMIH has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of NMI from a hold rating to a buy rating and set a $25.00 price objective for the company in a report on Monday, October 4th. Barclays boosted their price target on shares of NMI from $34.00 to $35.00 and gave the stock an overweight rating in a report on Tuesday. Finally, Credit Suisse Group upgraded shares of NMI from a neutral rating to an outperform rating and boosted their price target for the stock from $29.00 to $30.00 in a report on Monday. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NMI has a consensus rating of Buy and an average target price of $31.00.

NMI stock opened at $24.34 on Wednesday. The company’s 50 day simple moving average is $22.49 and its 200-day simple moving average is $22.96. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 10.72 and a beta of 1.70. NMI has a 1 year low of $19.83 and a 1 year high of $26.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.52 and a current ratio of 0.52.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, August 3rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $120.77 million for the quarter, compared to the consensus estimate of $119.61 million. NMI had a net margin of 43.40% and a return on equity of 14.69%. Equities analysts expect that NMI will post 2.69 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in NMIH. Teacher Retirement System of Texas purchased a new stake in NMI in the 1st quarter valued at $219,000. JPMorgan Chase & Co. raised its position in NMI by 24.0% during the 1st quarter. JPMorgan Chase & Co. now owns 408,813 shares of the financial services provider’s stock worth $9,664,000 after buying an additional 79,207 shares during the last quarter. Prudential Financial Inc. raised its position in NMI by 19.6% during the 1st quarter. Prudential Financial Inc. now owns 118,578 shares of the financial services provider’s stock worth $2,803,000 after buying an additional 19,393 shares during the last quarter. Geode Capital Management LLC raised its position in NMI by 5.9% during the 1st quarter. Geode Capital Management LLC now owns 1,482,140 shares of the financial services provider’s stock worth $35,037,000 after buying an additional 82,724 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in NMI during the 1st quarter worth $628,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc engages in the provision of private mortgage guaranty insurance. It focuses on long-term customer relationships, disciplined and proactive risk selection and pricing, fair and transparent claims payment practices, responsive customer service, financial strength, and profitability. The company was founded on May 19, 2011 and is headquartered in Emeryville, CA.

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