NMI Holdings (NMIH) Tops Q3 EPS by 2c

November 1, 2016 11:34 PM EDT
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NMI Holdings (NASDAQ: ) reported Q3 EPS of $0.10, $0.02 better than the analyst estimate of $0.08. Revenue for the quarter came in at $35.5 million versus the consensus estimate of $30.28 million.

Bradley Shuster, chairman and CEO of National MI, said, "We continued our positive momentum in the third quarter, delivering record net income and returns, trends that we expect will continue for the foreseeable future. We grew our high-quality insurance-in-force by 19% over the prior quarter and 166% over the third quarter last year. We also continued to shift our mix to high-return monthly product, which grew to 71% of total new insurance written in the quarter. Cessions commenced under our reinsurance agreement and we expect to continue to take advantage of the low cost of capital provided by reinsurance to support our future growth."

For earnings history and earnings-related data on NMI Holdings (NMIH) click here.

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