Nelnet (NYSE:NNI) Reaches New 1-Year High - What's Next?

Key Points

• Nelnet hit a new 52-week high of $143.72 (trading up ~1.2%) with a market cap of $5.15 billion and 50/200-day moving averages near $131.9.
• Analyst sentiment is mixed: the consensus rating is Moderate Buy (one Strong Buy, two Holds) with a consensus price target of $140, which is slightly below the current share price.
• Recent fundamentals: quarterly EPS missed at $1.56 versus $1.63 expected while revenue beat at $392.8M; Nelnet pays a quarterly dividend of $0.33 (annualized $1.32, yield 0.9%), and analysts forecast about 9.2 EPS for the fiscal year.

Nelnet, Inc. (NYSE:NNI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $143.72 and last traded at $143.7450, with a volume of 35014 shares traded. The stock had previously closed at $141.79.

Wall Street Analysts Forecast Growth

NNI has been the subject of several recent analyst reports. TD Cowen restated a "hold" rating on shares of Nelnet in a report on Thursday, January 8th. Zacks Research raised shares of Nelnet from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nelnet in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Nelnet Trading Up 1.2%

The company has a market capitalization of $5.15 billion, a P/E ratio of 12.20 and a beta of 0.81. The business has a fifty day moving average price of $131.91 and a 200 day moving average price of $131.78. The company has a quick ratio of 28.27, a current ratio of 28.27 and a debt-to-equity ratio of 2.18.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The credit services provider reported $1.56 EPS for the quarter, missing analysts' consensus estimates of $1.63 by ($0.07). The firm had revenue of $392.76 million during the quarter, compared to the consensus estimate of $382.00 million. Nelnet had a net margin of 18.99% and a return on equity of 12.43%. On average, analysts expect that Nelnet, Inc. will post 9.2 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, February 27th. Nelnet's dividend payout ratio is presently 11.21%.

Institutional Trading of Nelnet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Nelnet by 0.3% during the third quarter. Vanguard Group Inc. now owns 1,546,041 shares of the credit services provider's stock worth $193,843,000 after acquiring an additional 4,819 shares in the last quarter. Bragg Financial Advisors Inc raised its holdings in Nelnet by 3.2% during the fourth quarter. Bragg Financial Advisors Inc now owns 212,618 shares of the credit services provider's stock worth $28,270,000 after acquiring an additional 6,620 shares in the last quarter. UBS Group AG raised its holdings in Nelnet by 66.4% during the third quarter. UBS Group AG now owns 191,826 shares of the credit services provider's stock worth $24,051,000 after acquiring an additional 76,534 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Nelnet by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider's stock worth $23,199,000 after acquiring an additional 12,941 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Nelnet by 28.9% during the third quarter. American Century Companies Inc. now owns 184,316 shares of the credit services provider's stock worth $23,110,000 after acquiring an additional 41,302 shares in the last quarter. Institutional investors own 33.51% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.