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Thursday, October 22, 2020

NMI Holdings Inc. (NASDAQ:NMIH) Stock is Soaring, Here is Why

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NMI Holdings Inc. (NMIH) shares are trading at higher $22.40 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $22.25.

To add more color to this target, the company’s high over the last year is $35.79 and the low is $8.06. Over the last 52 weeks, NMIH is down -14.76% while the S&P 500 is up 18.10%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

NMIH booked profit margins of 43.50%, its Return on Equity (ROE) is 18.30%, and its Return on Assets is 12.10%. All told, it is clear that, NMIH needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NMIH has a short ratio of 3.65 and outstanding shares of 84.81M.

Company Outlook

NMIH has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 2.61. Investors should also keep an eye on sector updates as NMIH has historically followed its peers on positive news.

All told, NMI Holdings Inc. NMIH has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NMIH represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

NMI Holdings Inc. NMIH is now commanding a market cap of 1.80B and a float of 79.20M. NMIH is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NMIH stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NMIH, either long or short, and we have not been compensated for this article.

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