Nelnet (NYSE:NNI – Get Free Report) issued its quarterly earnings data on Thursday. The credit services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.06, FiscalAI reports. The company had revenue of $436.59 million during the quarter, compared to the consensus estimate of $427.37 million. Nelnet had a net margin of 12.93% and a return on equity of 7.15%.
Nelnet Stock Performance
Shares of Nelnet stock traded up $3.29 during trading hours on Friday, reaching $130.30. The company’s stock had a trading volume of 197,170 shares, compared to its average volume of 129,149. Nelnet has a one year low of $116.62 and a one year high of $144.38. 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 stock has a market cap of $4.66 billion, a P/E ratio of 18.23 and a beta of 0.78.
Nelnet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, December 1st. This is an increase from Nelnet’s previous quarterly dividend of $0.33. Nelnet’s payout ratio is 15.79%.
Analyst Upgrades and Downgrades
A number of research analysts have recently 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 lowered their target price on Nelnet from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nelnet presently has an average rating of “Reduce” and an average price target of $125.00.
Check Out Our Latest Analysis on Nelnet
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.
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