B. Riley Weighs in on NMI Holdings Inc’s FY2017 Earnings (NMIH)
NMI Holdings Inc (NASDAQ:NMIH) – Investment analysts at B. Riley issued their FY2017 earnings estimates for shares of NMI Holdings in a research report issued to clients and investors on Monday. B. Riley analyst R. Binner expects that the financial services provider will post earnings of $0.55 per share for the year. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for NMI Holdings’ FY2018 earnings at $1.05 EPS and FY2019 earnings at $1.40 EPS.
NMI Holdings (NASDAQ:NMIH) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. NMI Holdings had a net margin of 51.80% and a return on equity of 6.95%. The business had revenue of $48.95 million for the quarter, compared to the consensus estimate of $45.79 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 37.8% on a year-over-year basis.
Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods downgraded shares of NMI Holdings from an “outperform” rating to a “market perform” rating and set a $13.00 target price on the stock. in a research note on Monday, July 17th. Zacks Investment Research raised shares of NMI Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Deutsche Bank AG downgraded shares of NMI Holdings from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Friday, November 3rd. Finally, ValuEngine raised shares of NMI Holdings from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $15.93.
Shares of NMI Holdings (NMIH) opened at $15.90 on Wednesday. NMI Holdings has a 12 month low of $8.45 and a 12 month high of $17.08. The firm has a market cap of $954.53, a price-to-earnings ratio of 27.90 and a beta of 0.75. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.28.
In related news, VP Julie Norberg sold 16,600 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $16.73, for a total value of $277,718.00. Following the transaction, the vice president now owns 32,305 shares of the company’s stock, valued at approximately $540,462.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William J. Leatherberry purchased 5,000 shares of NMI Holdings stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $10.65 per share, for a total transaction of $53,250.00. The disclosure for this purchase can be found here. Company insiders own 5.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors increased its stake in NMI Holdings by 72.5% in the 2nd quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock worth $39,860,000 after buying an additional 1,462,624 shares during the period. Vanguard Group Inc. increased its stake in NMI Holdings by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,569,591 shares of the financial services provider’s stock worth $29,421,000 after buying an additional 239,387 shares during the period. FMR LLC increased its stake in NMI Holdings by 7.8% in the 2nd quarter. FMR LLC now owns 2,488,937 shares of the financial services provider’s stock worth $28,499,000 after buying an additional 180,126 shares during the period. Dimensional Fund Advisors LP increased its stake in NMI Holdings by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,052 shares of the financial services provider’s stock worth $27,996,000 after buying an additional 446,918 shares during the period. Finally, Renaissance Technologies LLC increased its stake in NMI Holdings by 2.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,024,900 shares of the financial services provider’s stock worth $23,185,000 after buying an additional 44,182 shares during the period. 84.08% of the stock is currently owned by institutional investors.
About NMI Holdings
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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