Overview
NMI Holdings Q3 revenue of $178.7 mln beats analyst expectations
Adjusted EPS for Q3 at $1.21, surpassing consensus estimates
Net income for Q3 was $96.0 mln, slightly down from Q2
Outlook
Company did not provide specific future guidance
Result Drivers
INSURANCE-IN-FORCE GROWTH - Primary insurance-in-force increased to $218.4 bln, up from $214.7 bln in the previous quarter
PREMIUMS EARNED - Net premiums earned rose to $151.3 mln from $149.1 mln in the previous quarter
CLAIMS EXPENSES - Insurance claims and claim expenses increased to $18.6 mln, up from $13.4 mln in the previous quarter
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $178.70 mln | $150.57 mln (3 Analysts) |
Q3 Adjusted EPS | Beat | $1.21 | $1.20 (6 Analysts) |
Q3 EPS | $1.22 | ||
Q3 Adjusted Net Income | Beat | $95.70 mln | $95.24 mln (5 Analysts) |
Q3 Net Income | $96 mln | ||
Q3 Operating Expenses | $29.20 mln | ||
Q3 ROE | 15.60% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for NMI Holdings Inc is $43.00, about 14.4% above its November 3 closing price of $36.79
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nGNX2tsn1J
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)