Nelnet (NYSE:NNI) Releases Earnings Results, Misses Expectations By $0.36 EPS

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

Nelnet Stock Down 2.2%

NYSE:NNI traded down $3.03 during trading hours on Friday, hitting $131.82. 196,672 shares of the company traded hands, compared to its average volume of 102,793. The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14. The firm’s 50-day simple moving average is $132.43 and its 200-day simple moving average is $131.89. Nelnet has a one year low of $116.62 and a one year high of $144.38. The company has a market cap of $4.74 billion, a PE ratio of 15.77 and a beta of 0.78.

Nelnet Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nelnet in a research note on Wednesday, July 29th. Zacks Research cut shares of Nelnet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. One investment 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $140.00.

Institutional Trading of Nelnet

Institutional investors have recently made changes to their positions in the company. Rossby Financial LCC bought a new position in shares of Nelnet during the fourth quarter valued at about $27,000. Osaic Holdings Inc. grew its position in Nelnet by 170.3% in the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock worth $45,000 after purchasing an additional 235 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Nelnet in the 4th quarter worth about $59,000. State of Wyoming purchased a new stake in Nelnet in the 2nd quarter valued at about $62,000. Finally, EverSource Wealth Advisors LLC increased its stake in Nelnet by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 541 shares of the credit services provider’s stock valued at $66,000 after buying an additional 313 shares during the last quarter. Institutional investors 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.