Nelnet (NYSE:NNI) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Nelnet (NYSE:NNI) released its earnings results on Thursday. The credit services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06, FiscalAI reports. The firm had revenue of $436.59 million for the quarter, compared to the consensus estimate of $427.37 million. Nelnet had a return on equity of 7.15% and a net margin of 12.93%.

Nelnet Trading Up 2.6%

Shares of NNI traded up $3.29 during trading hours on Friday, hitting $130.30. The stock had a trading volume of 197,170 shares, compared to its average volume of 129,149. The company has a debt-to-equity ratio of 1.94, a quick ratio of 15.89 and a current ratio of 15.89. The firm has a market cap of $4.66 billion, a P/E ratio of 18.23 and a beta of 0.78. The company’s fifty day simple moving average is $125.45 and its 200 day simple moving average is $129.96. Nelnet has a 12-month low of $116.62 and a 12-month high of $144.38.

Nelnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.36 dividend. This is an increase from Nelnet’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.1%. Nelnet’s dividend payout ratio is 15.79%.

Analysts Set New Price Targets

A number of research firms have recently commented on NNI. TD Cowen dropped their price objective on shares of Nelnet from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Tuesday, October 6th. Weiss Ratings cut shares of Nelnet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $125.00.

Nelnet Company Profile

Nelnet, Inc is a diversified education, technology and communications company headquartered in Lincoln, Nebraska. Its businesses provide services to colleges, universities, schools, students, borrowers and businesses, with a focus on simplifying education-related payments, administration and technology.

The company’s activities include student loan servicing and asset management, tuition payment processing, education technology, school administration solutions and communications services.