Nelnet, Inc. (NYSE:NNI) to Issue $0.33 Quarterly Dividend

Nelnet, Inc. (NYSE:NNI – Get Free Report) declared a quarterly dividend on Thursday, August 6th. Investors of record on Tuesday, September 1st will be paid a dividend of 0.33 per share by the credit services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st.

Nelnet has raised its dividend by an average of 0.1%per year over the last three years. Nelnet has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nelnet to earn $9.58 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 13.8%.

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Nelnet Trading Down 2.4%

Shares of NYSE:NNI traded down $3.26 during midday trading on Friday, reaching $131.59. The company’s stock had a trading volume of 89,956 shares, compared to its average volume of 130,119. Nelnet has a fifty-two week low of $116.62 and a fifty-two week high of $144.38. The company has a debt-to-equity ratio of 2.14, a quick ratio of 24.07 and a current ratio of 24.07. The firm has a 50 day moving average price of $132.41 and a two-hundred day moving average price of $131.89. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 11.46 and a beta of 0.78.

Nelnet (NYSE:NNI – Get Free Report) last issued its earnings results on Thursday, August 6th. The credit services provider reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.36). The business had revenue of $410.01 million during the quarter, compared to the consensus estimate of $419.92 million. Nelnet had a return on equity of 11.73% and a net margin of 18.45%. As a group, analysts forecast that Nelnet will post 8.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Zacks Research cut Nelnet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Nelnet in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $140.00.

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About Nelnet

(Get Free Report)

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.

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