Nelnet, Inc. (NNI) Issues Earnings Results
Nelnet, Inc. (NYSE:NNI) posted its earnings results on Tuesday. The credit services provider reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.10), Bloomberg Earnings reports. Nelnet had a net margin of 20.19% and a return on equity of 9.65%. The business had revenue of $194.43 million during the quarter, compared to analysts’ expectations of $191.00 million. During the same quarter in the prior year, the firm earned $1.36 EPS. Nelnet’s revenue for the quarter was down 18.6% compared to the same quarter last year.
Nelnet (NYSE:NNI) traded down $0.89 during mid-day trading on Tuesday, hitting $56.72. The stock had a trading volume of 78,204 shares, compared to its average volume of 77,952. Nelnet has a 1-year low of $38.72 and a 1-year high of $59.68. The company has a quick ratio of 9.42, a current ratio of 135.54 and a debt-to-equity ratio of 10.70. The firm has a market capitalization of $2,350.00, a PE ratio of 12.26 and a beta of 1.06.
In other news, major shareholder Angie Muhleisen sold 2,000 shares of Nelnet stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $45.34, for a total transaction of $90,680.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William J. Munn sold 1,000 shares of Nelnet stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock worth $407,520 over the last ninety days. Corporate insiders own 45.40% of the company’s stock.
Several equities research analysts recently issued reports on NNI shares. BidaskClub downgraded Nelnet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Compass Point cut Nelnet from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Wednesday, August 9th. TheStreet raised Nelnet from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th. Finally, Credit Suisse Group upped their price objective on Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, October 20th.
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Nelnet Company Profile
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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