Analysts Expect NIC Inc. (EGOV) to Announce $0.21 Earnings Per Share

Equities analysts expect NIC Inc. (NASDAQ:EGOV) to report earnings per share of $0.21 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for NIC’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.23. NIC also posted earnings per share of $0.21 during the same quarter last year. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, April 30th.

According to Zacks, analysts expect that NIC will report full-year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.75 to $0.77. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.74 per share, with EPS estimates ranging from $0.69 to $0.80. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover NIC.

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NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. NIC had a net margin of 15.34% and a return on equity of 33.25%. The business had revenue of $83.47 million during the quarter, compared to analyst estimates of $81.01 million. During the same quarter in the previous year, the business posted $0.20 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year.

EGOV has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, December 25th. BidaskClub lowered shares of NIC from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Barrington Research reiterated a “hold” rating on shares of NIC in a research note on Friday, March 9th. TheStreet lowered shares of NIC from a “b-” rating to a “c” rating in a research note on Thursday, March 8th. Finally, ValuEngine lowered shares of NIC from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.33.

NASDAQ:EGOV opened at $13.80 on Tuesday. The stock has a market capitalization of $922.90, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.80 and a beta of 0.51. NIC has a one year low of $12.65 and a one year high of $22.40.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Monday, March 5th. NIC’s dividend payout ratio is presently 41.56%.

NIC announced that its board has authorized a stock repurchase program on Thursday, March 8th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in NIC by 0.3% during the 4th quarter. BlackRock Inc. now owns 10,061,040 shares of the software maker’s stock worth $167,014,000 after purchasing an additional 34,993 shares during the last quarter. First Trust Advisors LP grew its position in NIC by 27,438.5% during the 4th quarter. First Trust Advisors LP now owns 3,023,180 shares of the software maker’s stock worth $50,185,000 after purchasing an additional 3,012,202 shares during the last quarter. Dimensional Fund Advisors LP grew its position in NIC by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,099,245 shares of the software maker’s stock worth $36,003,000 after purchasing an additional 13,274 shares during the last quarter. Bank of New York Mellon Corp grew its position in NIC by 21.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,930,914 shares of the software maker’s stock worth $32,052,000 after purchasing an additional 336,644 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in NIC by 49.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 927,278 shares of the software maker’s stock worth $15,393,000 after purchasing an additional 306,928 shares during the last quarter. 97.53% of the stock is currently owned by institutional investors.

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NIC Company Profile

NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.

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Earnings History and Estimates for NIC (NASDAQ:EGOV)

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