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

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Friday, November 8th,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 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. 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 Performance

NNI traded down $10.17 during trading on Friday, hitting $112.55. The stock had a trading volume of 105,096 shares, compared to its average volume of 75,496. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. The firm has a market capitalization of $4.08 billion, a P/E ratio of 36.67 and a beta of 0.92. The company’s 50-day moving average price is $113.24 and its 200 day moving average price is $107.59. Nelnet has a twelve month low of $82.22 and a twelve month high of $127.32.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NNI shares. StockNews.com cut shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen lifted their price objective on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note 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.