B. Riley Analysts Lower Earnings Estimates for NMI Holdings Inc (NMIH)
NMI Holdings Inc (NASDAQ:NMIH) – Stock analysts at B. Riley reduced their FY2018 earnings per share estimates for shares of NMI in a report issued on Monday. B. Riley analyst R. Binner now anticipates that the financial services provider will post earnings of $1.00 per share for the year, down from their previous estimate of $1.05. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for NMI’s FY2019 earnings at $1.35 EPS.
A number of other equities research analysts also recently issued reports on NMIH. BidaskClub raised shares of NMI from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of NMI from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine downgraded shares of NMI from a “buy” rating to a “hold” rating in a report on Monday. Compass Point downgraded shares of NMI from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $13.00 price target on shares of NMI in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $15.93.
NMI (NASDAQ:NMIH) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The firm had revenue of $48.95 million during the quarter, compared to analyst estimates of $45.79 million. NMI had a net margin of 51.80% and a return on equity of 6.95%. The business’s revenue was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS.
Several hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in NMI by 9.1% during the second quarter. Nisa Investment Advisors LLC now owns 9,580 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 800 shares during the last quarter. Macquarie Group Ltd. bought a new position in NMI during the third quarter valued at approximately $113,000. Citadel Advisors LLC bought a new position in NMI during the third quarter valued at approximately $141,000. Legal & General Group Plc grew its position in NMI by 8.8% during the second quarter. Legal & General Group Plc now owns 13,003 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 1,047 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in NMI during the third quarter valued at approximately $156,000. Institutional investors own 83.57% of the company’s stock.
In related news, VP Julie Norberg sold 16,600 shares of the company’s stock in a transaction that occurred on 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 directly owns 32,305 shares in the company, valued at $540,462.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Patrick L. Mathis sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $16.99, for a total transaction of $169,900.00. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.
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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