Nelnet Sets New 1-Year High at $45.60 (NNI)
Nelnet (NYSE:NNI) shares reached a new 52-week high during trading on Tuesday , American Banking & Market News reports. The stock traded as high as $45.60 and last traded at $45.06, with a volume of 63,331 shares. The stock had previously closed at $45.24.
A number of research firms have recently commented on NNI. Analysts at Compass Point raised their price target on shares of Nelnet from $53.00 to $54.00 in a research note on Friday, August 8th. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Nelnet in a research note on Friday, August 8th. They now have a $53.00 price target on the stock, up previously from $52.00.
The stock’s 50-day moving average is $42.14 and its 200-day moving average is $40.77. The company has a market cap of $2.084 billion and a P/E ratio of 7.46.
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. On average, analysts predict that Nelnet will post $6.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Monday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 27th.
In other Nelnet news, CFO James D. Kruger sold 10,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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