Nelnet, Inc. (NYSE:NNI) is reporting third quarter financial results on Thursday 5th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, NNI is expected to report 3Q20 income of $ 1.79 per share from revenue of $ 302.38 million.
For the full year, analysts anticipate top line of $ 1149.66 million, while looking forward to income of $ 4.05 per share bottom line.
Previous Quarter Performance
Nelnet, Inc. reported income for the second quarter of $ 2.21 per share, from the revenue of $ 317.68 million. The quarterly earnings gained 67.42 percent while revenues increased 31.29 percent compared with the same quarter last year.
Wall street analysts are predicting, NNI to report 2Q20 income of $ 2.42 per share from revenue of $ 331.24 million. The bottom line results missed street analysts by $ 0.21 or 8.68 percent, at the same time, top line results fell short of analysts by $ 13.56 million or 4.09 percent.
Stock Performance
Shares of Nelnet, Inc. traded up $ 0.53 or 0.84 percent on Wednesday, reaching $ 63.51 with volume of 50.00 thousand shares. Nelnet, Inc. has traded high as $ 63.63 and has cracked $ 61.81 on the downward trend
The closing price of $ 63.51, representing a 71.61 % increase from the 52 week low of $ 36.70 and a 8.29 % decrease over the 52 week high of $ 68.67.
The company has a market capital of $ 2.43 billion and is part of the Financial Services sector and Credit Services industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.20 per share on August 6, 2020. The dividend were payable on September 15, 2020 to holders of record as of the close of business on September 1, 2020 and ex-dividend date on August 31, 2020.
Nelnet, Inc. provides education related products and services, and loan asset management services worldwide. The companys 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.
