StockNews.com upgraded shares of Nelnet (NYSE:NNI - Free Report) from a hold rating to a buy rating in a research report released on Tuesday.
Nelnet Stock Down 0.8 %
Shares of NYSE:NNI traded down $0.96 on Tuesday, reaching $117.66. The company had a trading volume of 15,489 shares, compared to its average volume of 42,266. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The firm's 50 day simple moving average is $110.64 and its 200-day simple moving average is $111.00. Nelnet has a 52-week low of $87.02 and a 52-week high of $127.32. The firm has a market capitalization of $4.27 billion, a PE ratio of 38.77 and a beta of 0.91.
Nelnet (NYSE:NNI - Get Free Report) last issued its earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.21. The business had revenue of $401.61 million during the quarter, compared to the consensus estimate of $335.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. As a group, analysts expect that Nelnet will post 4.52 earnings per share for the current fiscal year.
Nelnet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, February 28th. Nelnet's payout ratio is currently 22.40%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new position in shares of Nelnet during the 4th quarter worth about $38,000. Blue Trust Inc. increased its position in Nelnet by 1,293.1% in the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after purchasing an additional 375 shares during the period. Sterling Capital Management LLC lifted its stake in Nelnet by 796.0% in the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock valued at $48,000 after buying an additional 398 shares during the period. FMR LLC increased its holdings in shares of Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider's stock worth $63,000 after acquiring an additional 94 shares in the last quarter. Finally, Man Group plc bought a new stake in Nelnet in the 4th quarter valued at approximately $202,000. Institutional investors and hedge funds own 33.51% of the company's stock.
About Nelnet
(
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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.
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