Nelnet Stock Rating Reaffirmed by Credit Suisse (NNI)
Nelnet (NYSE:NNI)‘s stock had its “outperform” rating reiterated by Credit Suisse in a research note issued on Friday. They currently have a $53.00 price objective on the stock, up from their previous price objective of $52.00. Credit Suisse’s price objective suggests a potential upside of 28.45% from the stock’s previous close.
Nelnet (NYSE:NNI) traded up 6.45% during mid-day trading on Friday, hitting $43.92. 132,854 shares of the company’s stock traded hands. Nelnet has a one year low of $34.86 and a one year high of $45.49. The stock has a 50-day moving average of $41.42 and a 200-day moving average of $40.4. The company has a market cap of $2.043 billion and a price-to-earnings ratio of 6.23.
Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.44 by $0.07. During the same quarter last year, the company posted $1.44 earnings per share. Analysts expect that Nelnet will post $6.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.97%.
Separately, analysts at Compass Point reiterated a “buy” rating on shares of Nelnet in a research note on Monday, May 12th. They now have a $53.00 price target on the stock, down previously from $54.00.
Nelnet, Inc is an education services company focused primarily on providing fee-based processing services and education-related products and services in four core areas: asset management and finance, loan servicing, payment processing, and enrollment services (NYSE:NNI).
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