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

Nelnet, Inc. (NYSE:NNI - Get Free Report) 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 1.00%. The ex-dividend date of this dividend is Monday, December 2nd.

Nelnet has raised its dividend payment by an average of 8.9% annually over the last three years. Nelnet has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 8.3 %

Shares of NNI traded down $10.20 during midday trading on Friday, hitting $112.52. The stock had a trading volume of 128,797 shares, compared to its average volume of 39,848. The stock's 50 day moving average is $113.18 and its 200 day moving average is $107.81. The firm has a market cap of $4.08 billion, a PE ratio of 26.92 and a beta of 0.92. The company has a debt-to-equity ratio of 2.97, a current ratio of 33.51 and a quick ratio of 33.51. Nelnet has a 1 year low of $82.22 and a 1 year high of $127.32.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.13). The firm had revenue of $324.90 million for the quarter. Nelnet had a net margin of 7.44% and a return on equity of 4.71%. As a group, analysts forecast that Nelnet will post 5.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NNI has been the subject of a number of recent analyst reports. TD Cowen boosted their price objective on Nelnet from $96.00 to $98.00 and gave the company a "hold" rating in a report on Monday, August 12th. StockNews.com downgraded shares of Nelnet from a "buy" rating to a "hold" rating in a research note on Monday, August 12th.

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.