Nelnet Earns $1.23 Per Share, Beats Estimates (NNI)

Nelnet, Inc. NNI on Tuesday morning released financial results that beat Wall Street earnings expectations. Nelnet, Inc reported that its 3rd quarter base net income rose to $60.3 million, or $1.23 per share, up from $50.2 million, or $1.01 per share, a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.02 per share, on revenue of $186.32 million. Chairman and chief executive officer Mike Dunlap said, "We are in a good position to continue to serve our customers well and to continue to experience long-term success with our ongoing strong operating performance. Our priorities of growing and diversifying our fee-based revenue, maximizing the value of our loan portfolio, managing our expense structure as we grow, and using our financial strength and liquidity to make the most of opportunities remain the same." Nelnet, Inc. (NNI) ended the previous trading session at $23.00 per share. Analysts covering the company's stock have a consensus price target of $25.80 per share. Read more from Benzinga's Company news.