Nelnet (NYSE:NNI) Issues Quarterly Earnings Results, Misses Estimates By $0.36 EPS

Nelnet (NYSE:NNI) posted its earnings results on Thursday. The credit services provider reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.36), FiscalAI reports. The business had revenue of $410.01 million during the quarter, compared to analyst estimates of $419.92 million. Nelnet had a net margin of 14.35% and a return on equity of 8.28%.

Nelnet Stock Performance

Shares of NYSE NNI traded down $3.03 during mid-day trading on Friday, hitting $131.82. The company had a trading volume of 196,672 shares, compared to its average volume of 102,793. Nelnet has a 12 month low of $116.62 and a 12 month high of $144.38. The firm has a market cap of $4.74 billion, a P/E ratio of 15.77 and a beta of 0.78. The business’s 50-day simple moving average is $132.43 and its 200-day simple moving average is $131.89. The company has a debt-to-equity ratio of 2.14, a current ratio of 24.07 and a quick ratio of 24.07.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Nelnet’s dividend payout ratio (DPR) is presently 11.50%.

Wall Street Analyst Weigh In

NNI has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Nelnet in a research report on Wednesday, July 29th. Zacks Research downgraded Nelnet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nelnet has an average rating of “Hold” and an average price target of $140.00.

Hedge Funds Weigh In On Nelnet

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Nelnet by 6.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock valued at $164,000 after buying an additional 83 shares in the last quarter. Captrust Financial Advisors lifted its position in Nelnet by 0.6% during the 3rd quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after buying an additional 94 shares in the last quarter. Alliancebernstein L.P. lifted its position in Nelnet by 0.6% during the 3rd quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock worth $2,402,000 after buying an additional 121 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Nelnet by 6.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,825 shares of the credit services provider’s stock worth $342,000 after acquiring an additional 180 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Nelnet by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 12,992 shares of the credit services provider’s stock worth $1,574,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.