Nelnet, Inc. Announces Quarterly Dividend of $0.28 (NYSE:NNI)

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.28 per share by the credit services provider on Monday, December 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Monday, December 2nd.

Nelnet has raised its dividend payment by an average of 8.9% per year over the last three years. Nelnet has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nelnet to earn $6.37 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 17.6%.

Nelnet Trading Down 8.2 %

Shares of NNI opened at $112.71 on Friday. Nelnet has a fifty-two week low of $82.22 and a fifty-two week high of $127.32. The business has a 50-day moving average of $113.18 and a 200 day moving average of $107.72. The firm has a market cap of $4.09 billion, a P/E ratio of 26.96 and a beta of 0.92. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.13). The business had revenue of $324.90 million during the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. As a group, research analysts forecast that Nelnet will post 5.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. TD Cowen upped their price target on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, August 12th.

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.