KBW Discusses Nelnet Earnings (NNI)

Keefe Bruyette & Woods is out with a research report on Nelnet, Inc. NNI after it reported earnings. It has a Market Perform and a $26 price target on shares.

In a note to clients, KBW writes, "Nelnet reported 4Q10 EPS ROCK: [$1.66, $1.45, $1.47, $1.48]. The difference between reported and operating results was due to a gain on the repurchase of debt. Operating EPS were lower than we had estimated primarily due to lower fee based revenue and higher operating expenses offset partly by higher net interest income than we had forecast. Lowering EPS estimates."

Shares of NNI lost 21 cents yesterday to close at $21.82, a loss of 0.95%.