Published on 8 Apr 2024 on Zacks via Yahoo Finance
NMI Holdings (NMIH) Up 41.4% in a Year: Will the Rally Last?
NMI Holdings Inc.’s NMIH shares have rallied 41.4% in a year compared with the industry's growth of 31.8%. The Finance sector and the Zacks S&P 500 composite have risen 24.3% and 27.1%, respectively, in the same time frame. With a market capitalization of $2.51 billion, the average volume of shares traded in the last three months was 0.5 million.
Image Source: Zacks Investment ResearchThe rally was largely driven by new business production, growth in the capital and reinsurance markets, improved total mortgage origination volume and flexible liquidity.This Zacks Rank #3 (Hold) insurer has a solid track record of beating earnings estimates in each of the last four quarters, the average being 6.06%.The Zacks Consensus Estimate for 2024 and 2025 earnings has moved 0.4% and 1.1% north, respectively, in the past 60 days, reflecting analysts’ optimism on the stock.