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

Nelnet (NYSE:NNI) announced 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. Nelnet had a net margin of 12.93% and a return on equity of 7.15%. The firm had revenue of $436.59 million for the quarter, compared to the consensus estimate of $427.37 million.

Nelnet Stock Up 2.6%

Shares of NNI traded up $3.29 during midday trading on Friday, hitting $130.30. The company had a trading volume of 197,170 shares, compared to its average volume of 129,149. The company’s 50-day simple moving average is $125.45 and its 200-day simple moving average is $129.96. 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 capitalization of $4.66 billion, a P/E ratio of 18.23 and a beta of 0.78. Nelnet has a 1 year low of $116.62 and a 1 year high of $144.38.

Nelnet Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NNI shares. Weiss Ratings cut shares of Nelnet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. TD Cowen dropped their price target 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. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus 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.