Nelnet, Inc. (NNI) to Issue Quarterly Dividend of $0.28 on December 16th

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Thursday, November 7th,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 dividend yield of 0.99%. 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% indicating that 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 %

NYSE NNI opened at $112.71 on Friday. Nelnet has a one year low of $82.22 and a one year high of $127.32. 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’s fifty day moving average is $113.18 and its two-hundred day moving average is $107.72. The firm has a market cap of $4.09 billion, a PE ratio of 26.96 and a beta of 0.92.

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

Analyst Ratings Changes

NNI has been the topic of several recent research reports. TD Cowen upped their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th. StockNews.com lowered shares of Nelnet from a “buy” rating to a “hold” rating in a 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.