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

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors 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 yield of 1.00%. The ex-dividend date is Monday, December 2nd.

Nelnet has increased its dividend by an average of 8.9% annually over the last three years. Nelnet has a dividend payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 8.3 %

Nelnet stock traded down $10.17 during trading on Friday, reaching $112.55. The stock had a trading volume of 105,096 shares, compared to its average volume of 75,496. Nelnet has a 52-week low of $82.22 and a 52-week high of $127.32. The business has a 50 day moving average price of $113.24 and a 200 day moving average price of $107.59. The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. The stock has a market cap of $4.08 billion, a PE ratio of 36.67 and a beta of 0.92.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The firm had revenue of $324.90 million during the quarter. On average, analysts predict that Nelnet will post 5.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen boosted their price objective on shares of Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, August 12th.

Nelnet Company Profile

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.