Zacks: Analysts Expect NMI Holdings Inc (NASDAQ:NMIH) Will Post Quarterly Sales of $107.09 Million

Wall Street brokerages expect NMI Holdings Inc (NASDAQ:NMIH) to report $107.09 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for NMI’s earnings, with the highest sales estimate coming in at $108.48 million and the lowest estimate coming in at $105.70 million. NMI posted sales of $91.18 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.4%. The company is scheduled to issue its next earnings results on Wednesday, July 29th.

On average, analysts expect that NMI will report full-year sales of $446.98 million for the current fiscal year, with estimates ranging from $437.46 million to $456.50 million. For the next financial year, analysts anticipate that the firm will report sales of $527.66 million, with estimates ranging from $467.21 million to $588.10 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow NMI.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. NMI had a return on equity of 21.90% and a net margin of 48.69%. The business had revenue of $107.60 million for the quarter, compared to the consensus estimate of $106.08 million. The company’s revenue was up 32.7% compared to the same quarter last year.

NMIH has been the subject of a number of research analyst reports. B. Riley lifted their price target on NMI from $18.00 to $20.00 in a report on Thursday, June 18th. Credit Suisse Group restated a “neutral” rating on shares of NMI in a research report on Wednesday, June 10th. Zacks Investment Research upgraded shares of NMI from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods downgraded shares of NMI from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a research report on Tuesday, June 9th. Finally, ValuEngine upgraded shares of NMI from a “strong sell” rating to a “sell” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.63.

Shares of NASDAQ NMIH traded up $0.92 during mid-day trading on Monday, hitting $15.76. The company had a trading volume of 1,031,564 shares, compared to its average volume of 1,260,103. NMI has a one year low of $8.06 and a one year high of $35.79. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.02 billion, a PE ratio of 5.84 and a beta of 1.91. The firm has a 50-day simple moving average of $15.78 and a two-hundred day simple moving average of $22.30.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in NMI by 5.4% during the first quarter. State Street Corp now owns 2,265,421 shares of the financial services provider’s stock valued at $26,302,000 after purchasing an additional 115,652 shares in the last quarter. Royal Bank of Canada raised its position in NMI by 78.7% during the first quarter. Royal Bank of Canada now owns 49,734 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 21,901 shares in the last quarter. Voloridge Investment Management LLC raised its position in NMI by 660.4% during the first quarter. Voloridge Investment Management LLC now owns 102,191 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 88,752 shares in the last quarter. Colony Group LLC acquired a new position in NMI during the first quarter valued at approximately $1,509,000. Finally, Advisor Group Holdings Inc. acquired a new position in NMI during the first quarter valued at approximately $40,000. Institutional investors own 91.41% of the company’s stock.

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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Earnings History and Estimates for NMI (NASDAQ:NMIH)

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