Nelnet, Inc. (NNI) To Go Ex-Dividend on December 1st

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Monday, December 1st will be given a dividend of 0.33 per share by the credit services provider on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a 10.0% increase from Nelnet’s previous quarterly dividend of $0.30.

Nelnet has increased its dividend by an average of 0.1%per year over the last three years. Nelnet has a dividend payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nelnet to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 20.3%.

Nelnet Stock Up 2.1%

NNI opened at $132.53 on Friday. The firm has a 50 day moving average price of $128.14 and a 200 day moving average price of $121.99. The company has a market cap of $4.79 billion, a PE ratio of 14.68 and a beta of 0.85. Nelnet has a 1 year low of $98.15 and a 1 year high of $136.68. The company has a debt-to-equity ratio of 2.27, a quick ratio of 29.41 and a current ratio of 29.42.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $1.43. Nelnet had a net margin of 14.86% and a return on equity of 10.09%. The firm had revenue of $427.76 million for the quarter, compared to analysts’ expectations of $372.00 million. Sell-side analysts expect that Nelnet will post 4.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NNI. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nelnet in a research report on Wednesday, October 8th. Wall Street Zen raised Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About Nelnet

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.