Zacks Research Has Optimistic Outlook of NMI FY2024 Earnings

NMI Holdings, Inc. (NASDAQ:NMIH - Free Report) - Stock analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of NMI in a research report issued to clients and investors on Tuesday, December 24th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings of $4.53 per share for the year, up from their previous estimate of $4.52. The consensus estimate for NMI's current full-year earnings is $4.54 per share. Zacks Research also issued estimates for NMI's Q1 2025 earnings at $1.13 EPS, Q3 2025 earnings at $1.18 EPS and FY2026 earnings at $5.09 EPS.

NMIH has been the topic of a number of other research reports. Royal Bank of Canada decreased their price objective on shares of NMI from $48.00 to $47.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Barclays increased their price target on shares of NMI from $43.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of NMI from $46.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their price objective on NMI from $43.00 to $44.00 and gave the company a "market perform" rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.14.

NMI Price Performance

Shares of NASDAQ:NMIH traded down $0.54 during midday trading on Friday, reaching $36.72. The company's stock had a trading volume of 470,923 shares, compared to its average volume of 527,827. The business's fifty day simple moving average is $38.38 and its 200-day simple moving average is $38.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. NMI has a fifty-two week low of $28.67 and a fifty-two week high of $42.49. The company has a market capitalization of $2.91 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.92 and a beta of 1.10.

Hedge Funds Weigh In On NMI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP raised its position in shares of NMI by 135.1% in the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 493 shares during the period. GAMMA Investing LLC raised its holdings in NMI by 57.2% in the third quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider's stock worth $30,000 after purchasing an additional 265 shares during the period. USA Financial Formulas bought a new position in shares of NMI during the third quarter worth $57,000. Picton Mahoney Asset Management acquired a new position in shares of NMI in the 2nd quarter valued at $63,000. Finally, Farther Finance Advisors LLC increased its position in shares of NMI by 989.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider's stock valued at $134,000 after buying an additional 2,950 shares in the last quarter. Institutional investors own 94.12% of the company's stock.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.