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

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

Shares of NNI opened at $112.71 on Friday. Nelnet has a 52-week low of $82.22 and a 52-week high of $127.32. The firm has a market capitalization of $4.09 billion, a PE ratio of 26.96 and a beta of 0.92. The firm has a 50-day moving average price of $113.18 and a 200 day moving average price of $107.72. The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97.

Nelnet (NYSE:NNI) last released its 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 for the quarter. On average, sell-side analysts anticipate that Nelnet will post 5.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. 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. StockNews.com lowered shares of Nelnet from a “buy” rating to 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.