Nelnet (NYSE:NNI) announced its earnings results on Thursday. The credit services provider reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.12), Fidelity Earnings reports. Nelnet had a net margin of 7.45% and a return on equity of 9.61%. The firm had revenue of $285.57 million during the quarter, compared to analysts’ expectations of $270.35 million. During the same period in the prior year, the company posted $1.14 EPS.
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Shares of NNI traded down $1.75 during midday trading on Friday, hitting $61.47. The stock had a trading volume of 132,483 shares, compared to its average volume of 66,121. Nelnet has a 1 year low of $47.59 and a 1 year high of $69.97. The firm has a market cap of $2.47 billion, a PE ratio of 11.32 and a beta of 0.36. The company has a debt-to-equity ratio of 9.15, a current ratio of 70.11 and a quick ratio of 70.11. The stock’s 50 day moving average is $62.19 and its 200 day moving average is $61.91.
Separately, ValuEngine downgraded shares of Nelnet from a “hold” rating to a “sell” rating in a research note on Friday, September 20th.
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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