Nelnet, Inc. (NYSE:NNI) to Issue Quarterly Dividend of $0.28

Nelnet, Inc. (NYSE:NNI) 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 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Monday, December 2nd.

Nelnet has increased its dividend payment by an average of 8.9% annually over the last three years. Nelnet has a payout ratio of 17.6% indicating that 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 Price Performance

NNI opened at $112.71 on Friday. Nelnet has a 1 year low of $82.22 and a 1 year high of $127.32. The company has a debt-to-equity ratio of 2.97, a current ratio of 33.51 and a quick ratio of 33.51. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 26.96 and a beta of 0.92. The firm’s fifty day moving average price is $113.18 and its two-hundred day moving average price is $107.72.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share 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 return on equity of 4.71% and a net margin of 7.44%. As a group, analysts anticipate that Nelnet will post 5.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen raised their target price on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research report 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.