Nelnet Trading Up 5.4% Following Better-Than-Expected Earnings (NNI)
Shares of Nelnet (NYSE:NNI) were up 5.4% on Friday following a stronger than expected earnings report, AnalystRatingsNetwork.com reports. The company traded as high as $43.49 and last traded at $43.49, with a volume of 55,946 shares changing hands. The stock had previously closed at $41.26.
The company reported $1.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.44 by $0.07. During the same quarter in the prior year, the company posted $1.44 earnings per share.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders 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.
The stock’s 50-day moving average is $41.42 and its 200-day moving average is $40.4. The company has a market cap of $2.031 billion and a P/E ratio of 6.23.
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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