Nelnet (NYSE:NNI) Issues Earnings Results, Misses Estimates By $0.36 EPS

Nelnet (NYSE:NNI) issued its quarterly earnings data on Thursday. The credit services provider reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.36), FiscalAI reports. Nelnet had a return on equity of 8.28% and a net margin of 14.35%.The company had revenue of $410.01 million for the quarter, compared to the consensus estimate of $419.92 million.

Nelnet Stock Performance

Nelnet stock traded down $3.03 during mid-day trading on Friday, hitting $131.82. 196,672 shares of the company’s stock traded hands, compared to its average volume of 102,793. The firm has a 50 day moving average price of $132.43 and a 200 day moving average price of $131.89. The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14. The company has a market cap of $4.74 billion, a PE ratio of 15.77 and a beta of 0.78. Nelnet has a one year low of $116.62 and a one year high of $144.38.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Nelnet’s dividend payout ratio (DPR) is currently 11.50%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bragg Financial Advisors Inc lifted its holdings in Nelnet by 3.2% in the fourth quarter. Bragg Financial Advisors Inc now owns 212,618 shares of the credit services provider’s stock worth $28,270,000 after purchasing an additional 6,620 shares during the period. UBS Group AG increased its stake in Nelnet by 66.4% during the 3rd quarter. UBS Group AG now owns 191,826 shares of the credit services provider’s stock valued at $24,051,000 after buying an additional 76,534 shares during the period. Qube Research & Technologies Ltd increased its stake in Nelnet by 3.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 99,917 shares of the credit services provider’s stock valued at $12,528,000 after buying an additional 3,077 shares during the period. Jane Street Group LLC raised its position in shares of Nelnet by 115.1% during the 4th quarter. Jane Street Group LLC now owns 69,711 shares of the credit services provider’s stock worth $9,269,000 after buying an additional 37,300 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nelnet by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider’s stock worth $6,480,000 after buying an additional 3,923 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NNI shares. Zacks Research cut Nelnet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Nelnet in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $140.00.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.