Nelnet, Inc. (NYSE:NNI) Raises Dividend to $0.33 Per Share

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Thursday, November 6th. Investors of record on Monday, December 1st will be paid a dividend of 0.33 per share by the credit services provider on Monday, December 15th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, December 1st. This is a 10.0% increase from Nelnet’s previous quarterly dividend of $0.30.

Nelnet has raised its dividend payment by an average of 0.1%annually over the last three years. Nelnet has a payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nelnet to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 20.3%.

Nelnet Stock Performance

NYSE:NNI traded up $4.63 on Friday, hitting $134.43. The company’s stock had a trading volume of 51,988 shares, compared to its average volume of 69,712. Nelnet has a one year low of $98.15 and a one year high of $136.68. The firm has a market capitalization of $4.86 billion, a P/E ratio of 14.89 and a beta of 0.85. The stock has a fifty day moving average of $128.06 and a two-hundred day moving average of $121.78. The company has a current ratio of 29.42, a quick ratio of 29.41 and a debt-to-equity ratio of 2.27.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $1.43. The business had revenue of $427.76 million during the quarter, compared to the consensus estimate of $372.00 million. Nelnet had a return on equity of 10.09% and a net margin of 14.86%. Research analysts predict that Nelnet will post 4.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NNI. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

About Nelnet

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.