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    NMI Holdings (NMIH) Heads Into Earnings With The Undervalued Story Still In Play

    Simply Wall St·10/25/2026 10:30:19
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    NMI Holdings (NMIH) heads into its next earnings report on November 5, 2026, after two quarters of earnings surprises averaging 6.37%, supported by a positive Earnings ESP and a Zacks Rank #3 (Hold).

    NMI Holdings shares have gained 4.78% on a year to date basis and the 1 year total shareholder return of 15.25% points to solid longer term momentum, even though the 90 day share price return slipped 1.16% on the way to the latest close at $42.55.

    Scan for other mortgage and financial insurers showing similar earnings momentum to NMI Holdings using our hand picked list of 30 resilient stocks with low risk scores

    After a strong multi year run and a softer 90 day patch, NMI Holdings now sits at a crossroads. Do the current numbers still tilt the risk reward balance toward buyers, or has most of the easy upside already been claimed?

    Most Popular Narrative: 15% Undervalued

    Against a last close of $42.55, the most followed narrative pegs NMI Holdings at a fair value of about $49.86 using a 7.5% discount rate. This points to a material gap that the story tries to explain through capital strength, loss trends and capital returns.

    Disciplined capital management, with US$3.7 billion of available PMIERs assets and US$1.6 billion of excess capital alongside US$408 million of share repurchases and remaining authorization capacity, positions NMI Holdings to continue shrinking the share count and support earnings per share.

    See why 4 investors see NMI Holdings as 15% undervalued.

    Result: Fair Value of $49.86 (UNDERVALUED)

    Still, the story around NMI Holdings can change quickly if loss normalization accelerates from current claims levels, or if future FHA premium cuts pull volume away from private insurers.

    Find out about the key risks to this NMI Holdings narrative.

    Next Steps

    Mixed messages so far, right, with both concern and optimism in the air around NMI Holdings. Move quickly, review the full picture, and weigh up the 3 key rewards and 1 important warning sign.

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